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Home My WebLink About01-0629 PETITION FOR PROBATE and GRANT OF LETTERS No. To: Register of Wjlls for the Deceased. County of Cumber land in the Social Security No. 1 93 - 2 4 - 0 9 9 0 Commonwealth of Pennsylvania The petition of the undersigned respectfully represents that: Your petitioner(s). who~/are 18 years of age or older an the executor~ in the last will of the above decedent, dated Ma r c h 8 and codicil(s) dated none 21-01-629 Estate of Donald D. Lehman also known as named , 19~ (state relevant circumstances, e.g. renunciation, death of executor, etc.) Decendent was domiciled at death in C umbe r 1 and County. Pennsylvania, with his lastfamilyorprincipalresidenceat 55 Kerrs Road, Carlisle, West Pennsboro Township, Cumberland County, Pennsylvania (list street, number and muncipality) Decendent,then 75 yearsofage,diedQUne 19 ,Jt~ 2001, at Carlisle Hospital, Carlisle, Cumberland County. Pp-nnsylvania Except as follows, decedent did not marry, was not divorced and did not have a child born or adopted after execution of the will offered for probate; was not the victim of a killing and was never adjudicated incompetent: prpn~C"E>ased by wife. lTo~p-p'hinp Lehman in 1978. Decendent at death owned property with estimated values as follows: (If domiciled in Pa.) All personal property $ 375 , 000 . 00 (If not domiciled in Pa.) Personal property in Pennsylvania $ (If not domiciled in Pa.) Personal property in. County $ Value of real estate in Pennsylvania $ 3 2 3 , 500 . 00 situated as follows: 2267 Newville Road, Carlisle, Pennsylvania 17013 55 Kerrs Road, Carlisle. Pennsylvania 1701~ WHEREFORE, petitioner(s) respectfully request(s) the probate of the last will and codicil(s) presented herewith and the grant of letters t P!': T. amp n T. ;'I r y (testamentary; administration c.t.a.; administration d.b.n.c.t.a.) theron. ~ ~ '" u C '" "0 ~ .- '" "'~ "'... ~'" c -g.g cu ";:: Z~ "''- ;0 ~ c ClO i:ii ~,,~~ eu David D. T.~'hman 30 Kerrs Road Carlisle. Pennsylvania - ------- 18702 17013 OATH OF PERSONAL REPRESENTATIVE COMMONWEALTH OF PENNSYLVANIA } COUNTY OF Cumberland ss The petitioner(s) above-named swear(s) or affirm(s) that the statements in the foregoing petition are true and correct to the best of the knowledge and belief of petitioner(s) and that as personal represen- tative(s) of the above decedent petitioner(s) will well and tr~IY a~iniste~::cording to law. Sworn to or affirmed and subscribed ~. . . _0 ~ V'J before me this - 2n<L-- day of Q a ',j' " JULY 1$;2001 ~ ~ !!. 7>?'1~Y(!~~U~ - ~.A-\V~ ! /6 -c:JI,Il- ~ ~o. ?1-Ol-6?Q Estate of Donald D. Lehman , Deceased DECREE OF PROBATE A~D GRA~T OF LETTERS AND NOW JULY 5 ~2001 , in consideration of the petition on the reverse side hereof, satisfactory proof having been presented before me, IT IS DECREED that the instrument(s) dated March 8, 1988 described therein be admitted to probate and filed ofrecord as the last will of Donald D. Lehman and Letters Testamentarv are hereby granted to Dennis R. Lehman and David D. Lehman ~(/~'~~f--!/k / iO'--'''Y R ster of Wil Probate, Letters, Etc. ......... Short Certificates( ).......... x-pag~s. RenunCIatIon ................ JCP $ $ $ $ 5.00 TOTAL _ $ 486.00 . ..;r!l.l.y'. ?'" .~99.1..................: 445.00 30.00 6.00 Robert L. O'Brien, Esquire 28351 FEES. ATTORNEY (Sup. Ct. I.D. No.) O'Brien, Baric & Scherer 17 West South Street Carlisle,ADDRESS PA 17013 (717) 249-6873 PHONE aLV~ Filed 1J'A<;)~'{\'; ,::,,~\,' '~i,,(. This is to certifY that the information here given is correctly copied fro~ an original certificate of death dul~ filed with Local Registrar. The original certificate will be forwarded to the State Vltal Records Office for permanent fillllg. me as WARNING: It is illegal to duplicate this copy by photostat or photograph. 7402519 ~~.~~~~~ Local Registrar Fee for this certificate, $2.00 p JUN 2 1 2001 Date No. DECEDENT'S USUAL MnOH (00........ __.........- tlmllfo;.....u........l Farmer . 11.. Y 1t~ DECEDENT'S lWUNG ADOAESS (SO.... c...-. _ z"'~ .5.5 Kerrs Road Carlisle , Penna. 17013 ,.. FAfHER'S NAWE tF'''. M~~ 1 " U~.1. er ....OAMAHT.sNA..E~d D. '105.143A.-w.2117 NAME OF DECEOENT If".. Midclle.l" ,. Donald AGE ll.. SorIr'odIIyl UNDER' YEAR ....... Oayo 7.5 v.. COUNTY Of DEAJ'H jr . Cumberland 21-01-629 COMMONWEALTH OF PENNSYLVANIA' DEPARTMENT OF HEALTH. VITAL RECORDS CERTIFICATE OF DEATH D. Lehman SEX ..Male STR( FU NUt.l8EA SOCIAL SECURITY NUMBER .. 193- 24 - 0990 DAlE OF QUifHIMOtIltl. 0.,,- ....., ., June 19.2001 .. ..... UHDEFll DAY ttour. ! MInuIft IIRTHPl.ACE {Cey and PUCE 0# DEATH ICt-edI orWy Ol"e - 1M ~fUCl.ons on Ofhet ~ umI>ei-'!infa'Co. 'f:::* 1. Penna. ... FACIUTY NAME (JI not .nsM\A1Clf1. owe *Ml anc21'1Umb1r1 ::"'0 RACE. AtMnc:an IndiIn, 8IKk. WNlIe. tile. '_I White Carlisle Hospital KJNOO# BUStNESS/lNDUSTRV ". MARITAL STATUS......, H.......~.~, wrcr~r SUIMV1NG SPOuSE (If wN, QN<8 m..oen,.,.,. E-..,.,........., 10-12) 8 DECEDENT'S ACTUAl. RESIDENCE -- ...-- ennsy van~a Cumberland wP!':t Penn!': boro '710. DId - Min. _? I . Lehman Lehman Thumma METHOD OF CMSPOSlT~ O ......1.1\1 c._o __St...O _ om..-,. 21 - !ME OF OEATH DATE PRONOUNCED DEAD (Month. o.y. 'Mt) ... (p : IS P... '". , - f 9 -0 I 27. NRT I: Enter fI'le 6su.... injuries Of compIc:ationa whictt c:aUHCS the death. 00 not enIIerlhe mode of dying, such as cafdiac Of reapitatory a"etC. Shodl Of heM tailute lilt only one caUM on MCh line. ouJ;mm ~a I DUElOlORASACONSEOU E~ l :. .. WEAE AUlOPSY FlNOtNQS MNLAaE PRIOR 10 CClMPLET1ON", CAuSE ", llERH1 I Approximete linI...~ : onMC and dMth I I I PART H: Other ~ c:ondItioN concrbItirlg to dIIettl. bUt ftClI ,..,.lnginlhll~*-.... in PART I. 1/ WJ-uJitva/ t://>1-Vl'hl CV. DUE 10 fOR AS A CONSEQUENCE OF): DUE 10 (OR AS A CONSEOUENCE Of), MANNER OF DEATH ORE OF INJURY lMonIh. (My, 'lUr) TIME OF 1MJUR"t IkIl!RY R WORK? DESCRIBE HOw' ~AY OCCURRED. No)( ......" -- ~ o .... 0 NoD zo. o o o PlAcE OF INJURY. AI home, *'". II,,",. factofy.orftc:e ... _Ole._ _. ....... HomiQde --'''' Coutd not be de.."",,*, "PRONOUNCINQ AND CERTIFYINQ PHYStCIAN (Physc.." ooeh :Jfonounc:1/'l9 CNth.nd certllyong lOeav. 01 ~a\tl' TatI'M ~ of my "l'IOwtedQ_, d...lhoccufredallt\etlme, da'., anclplKe. and due tottte cauH(a) and m.nn.r.....t................ m/J -MEDICAL lXAMINEA/CORONEA On the bnl, or eumlnetlon .ndlor Investigation. In my opinion, d..th occurred It the 11m.. d.'I, and plue.and due 10 the CIU..(S).net ....nner.. stolti'd....,..........".., ,...................,......,..,., .,.,.....,....,.,...,........,... 31.. REGISTRAR'S Sf(JNATURE "'NO NU 3., DATE FILE01Monltt. OIiy. _'I ,. J~ ~\, at()\ ~\ I~ \I()! .' . ~~~~~~ 21-01-629 I, DONALD D. LEHMAN, of West Pennsboro Township, Cumberland County, Pennsylvania, declare this instrument to be my Last Will and Testament, hereby expressly revoking all Wills and Codicils heretofore made by me. ONE: I direct my Executor to pay all of my debts, funeral and administrative expenses as soon as may be done conveniently after my decease. TWO; I give, devise and bequeath the two farms consisting of all improvements and real estate situate in West Pennsboro Township, Cumberland County, Pennsylvania in accordance with the provisions of a buy-sell agreement entered into with my sons, Douglas B. Lehman and David D. Lehman, a copy of which is attached hereto and marked Exhibit "A". THREE; I give, devise and bequeath all rest, residue and remanider of my estate of every nature and wherever situate to my children, Dennis R. Lehman, David D. Lehman, Kathleen J. Lehman, Barbara K. Lehman, and Douglas B. Lehman, in equal shares, per stirpes. If any of my aforenamed children should predecease me, their share shall be distributed to their issue who survive me. If any of my aforenamed children should predecease me without living issue, then their share shall be distributed equally to my children who survive me or the issue of a child who has predeceased me, but only to the extent my child would have received if alive at my death. ,- " fOUR: I nominate and appoint Dennis R. Lehman and David D. Lehman to be the Co-Executors of this my Last Will and Testament. FIVE: My Co-Executors may, at their discretion, compromise claims, borrow money, retain property for such length of time as they may deem proper; lease and sell property for such prices, on such terms, at public or private sales, as they may deem proper; and invest estate property and income without restriction to legal investments. SIX; No Co-Executors acting hereunder shall be required to post bond or enter security in this or any jurisdiction. this IN WITNESS WHEREOF, I have hereunto set my hand and ~ day of March, 1988. seal Cf:):~1~~.~4Q>-~ (SEAL) Signed, sealed, published and declared by DONALD D. LEHMAN, the above-named Testator, as and for his Last Will and Testament, in the presence of us, who, at his request, in his presence and in the presence of each other have subscribed our names as witnesses hereto. 9\~Y\m. IS. W', - .. . v ~sba-L~':~r ...(.;r~'0~d/Z~ - 2 ~ ,. ACKNOWLEDGEMENT AND AffIDAVIT WE, DONALD D. LEHMAN, JEAN M. RICE and SHARON L. SCHWALM, the testator and witnesses respectively, whose names are signed to the foregoing instrument, being first duly sworn, do hereby declare to the undersigned authority that the testator signed and executed the instrument as his Last Will and that he had signed willingly, and that he executed it as his free and voluntary act for the purpose herein expressed, and that each of the witnesses, in their presence and hearing of the testator, signed the Will as a witness and that to the best of their knowledge the testator was at that time eighteen years of age or older, of sound mind and under no constraint or undue influence. ./ COMMONWEALTH OF PENNSYLVANIA: COUNTY OF CUMBERLAND SSe Subscribed, sworn to and acknowledged before me by DONALD D. LEHMAN, the testator, and subscribed and sworn to before me by JEAN M. RICE and SHARON L. SCHWALM, witnesses, this ~ day of March, 1988. I BHZI A. MORR CARLISLE BORO. UMBERLAND COUNTY MY CO~MISSION EXPIRES DEC. 15, 1988 Member, Pennsylvania Association of Nok';cs II i E CERTIFICATION OF NOTICE UNDER RULE 5.6(a) Name of Decedent: Donald D. Lehman ;2, _ ,,\ _ (0 ~ q Date of Death: June 19, 2001 To the Register: I certify that notice of beneficial interest required by Rule 5.6 (a) of the Orphans' Court Rules was served on or mailed to the following beneficiaries of the above-captioned estate on 7/ C; I tJ / Name Address Douglas B. Lehman David D. Lehman 55 Kerrs Road, Carlisle, Pennsylvania 17013 30 Kerrs Road, Carlisle, Pennsylvania 17013 53 Old Mill Road, Laflin, Pennsylvania 18702 336 Bonnybrook Road, Carlisle, Pennsylvania 17013 723 South Roberts Road, Bryn Mawr, Pennsylvania 19011 Dennis R. Lehman Barbara L. Baric Kathleen Burke Notice has now been given to all persons entitled thereto under Rule 5.6(a) except: none Date: 7/tt/tY? , / ~Vd cf, David A. Baric, Esquire O'Brien, Baric & Scherer 17 West South Street Carlisle, Pennsylvania 17013 (717) 249-6873 Capacity: Personal Representative x Counsel for Personal Representative . ........-~.,. _r .~,- - ~ ~ .....,... - - - - ---------------------------------------------. PLACE STICKER AT TOP OF ENVELOPE TO THE RIGHT OF RETURN ADDRESS. FOLD AT DOTTED LINE CERTIFIED MAIL ~...:~.?:\.~:':,.);c~~ 2.~-.~~:i-.:==~.l , / -<.,x. /;) (/~. ' !"'G--..--~-.',,--;T.: I'" -.\- i" LSOh'\lF1'L . { , ," ".:' ~Ji~i ...,' C i,. , ".....1\ I " ""J".' .,( ',' ;, . ..., I ? <) r - \: '> 1",<<h.":ltE-~'~: . c.. .(. 1.) l--' / __ _._" I. ".....,,"_ ~_:-.__ f'~ . i :. ".P .. ___.~~ ".. - _u .-... ,.J: ... \\\\~~~'\\\I\"\\\ 7000 0520 0024 5315 5113 ~ OI-DiP)., U RETlifiM~ ,. RE";U". ReCEIPT y ESTro MARY CLEWIS REGISTER OF WILLS CUMBERLAND COUNTY COURTHOUSE ONE COURTHOUSE SQUARE CARLISLE PA 17013 ~""'>'. .. ~~- METTE, EVANS & WOODSIDB;' A PROFESSIONAL CORPORATION '" ATTORNEYS AT LAW q 3401 NORTH FRONT STREET P.O. BOX 5950 HARRISBURG, PA 17110-0950 ~: ~. ..... r;'" ~ .,.J ~.~. -- ,'.:'>0 TO: J .--.---....=- ,,"-,'" " ,'.j J COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF INDIVIDUAL TAXES DEPT. 280601 HARRISBURG. PA 17128-0601 REV-1162 EX(11-96) RECEIVED FROM: PENNSYLVANIA INHERITANCE AND ESTATE TAX OFFICIAL RECEIPT METTE EVANS & WOODSIDE 3401 N FRONT STREET HARRISBURG, PA 17101 -------- fold ESTATE INFORMATION: SSN: 193-24-0990 FILE NUMBER: 2101-0629 DECEDENT NAME: LEHMAN DONALD D DA TE OF PAYMENT: 03/20/2002 POSTMARK DATE: 03/19/2002 COUNTY: CUMBERLAND DATE OF DEATH: 06/19/2001 NO. CD 000977 ACN ASSESSMENT CONTROL NUMBER AMOUNT 101 I $44,999.00 I I I I I I I I TOTAL AMOUNT PAID: REMARKS: DAVID LEHMAN C/O METTE CHECK# 115 SEAL INITIALS: VZ RECEIVED BY: REGISTER OF WILLS $44,999.00 MARY C. LEWIS REGISTER OF WILLS . 1 D , 71"7 236 1816 EVANS WOODSIOE ~_::~;~::;:VAN~ \ ,REV-15OQ '-' DEI'AR."I'MENT OF REVENUE : · DEPT. 280601 INHERl't~NCE TAX .RETURN FILEN\,l~.EI\ HARRISBURG, PA 1712e-()M1 RESIDENT DECEDENT 21 PAGE 2/16 (!.. OFFICIAL. US. ':>NL Y 1(0.- 'J41 - 8 01 00629 :OUrfrv CODE YEAR N'~MB.~ oeCEOENrs NAME (LAST, FI~ST. AND MIDOLE INITIAL) SOCIAL SE':U~lTY NUMBER DECE- DENT Iabnan, D:xlald D. DATE OF OEAlrI (MM-OD-YEAR) -1 DATE OF BIRTH (MM-DO-YEAR) 06/19/01 08/25/1925 (IF APPLlCA6LE) SURVNfNG SPOUSE'S NAME (LAST, FIRST, AND MIDDLE INITIAL) 193-24-0990 THIS RETURN MUST BE FILED IN DUPLICATE WITIi THE REGISTEPl OF WILLS SOCIAL SECURITY NUMB!!" CHECK APPRO- PRIATE BLOCKS ~ 1. Otiginal !\etlJ!l'l 4. Umlted Estate 8. Deee~"t DI.~ ieatale (A~o~ co~y of Will D. Litigation ProceedS Received ~ 2. SUpplemental Return 4a. Fu'utolnlerestComp,Qmise (d.>te ~f d..th dte' lZ-t4-n) 7, Oece~e"1 M~int.ained ~ ~iving Tl'lltt (Amc~ a eepv Qf T,u.tl 10, Socusa' Poverty Ctedil (dal. Qf dRIll t>~tw&tn ,a-)1-1J1.n41-1-9S) 3. Remainder ~rn o (datil of death prior to 12-13-82) ~ 5. Federal Estatll Tax Return ~equired o S. Total Number of Safe ~it BoxQS O 11. electIon 1~ la. .nder Sec. "'l3(A) (At"'~h $~h 0) ""1 " . " .:':~I .::' .,::', ~.: ':....N. ..~.~!: '. ~~;..:~':'.. ':~~~':': .~. ,", ~'~"":"'~""'::"~::~:':~:'~.','" ",',:,",:" ~:. :'~~:. :~~,~,:;:"..~:...Jl"", . ". ~'~_~...~~..~.,~~:'.. ',',' .' .... .'.' :.'.' ':."~""~:'~,.: '...~:R1_lfi! COR- RE- SPON DENT J. Heirn, FlAM NAME (If Applieable) Mette, Evans & W::>odside TELEPHONE NUMBeR 717-232-5000 COMPLETE MAILING ADDRESS 3401 N. Front Street ro Box 5950 Harrisburg, PA 17110-0950 ;:-,*' :'" ,or FPFFICIAQl1J~ ONl.Y 1. "ell Estate (Schedl,J~ A) 2, Stock$ and Bonds (Schedule B) (1) (2) 488, 14(}: OQ 28,39'7;00 ~ N:;oe i'J o 3. Closely Held C';"!:,oratlon. P&rtn.rs~j.. 01 Sole-P'op,:eto,ship (3) 4. Mortgages & Notes Raoeivab~ (Schedule 0) (4) $. l;esh, Bank Deposlte & Miscellaneous Personal Property (Schedule E) (~) 6. JoinllV Owned Pro"erIY (SChedule F) o Separate Bining Reque$te<l (6) 1.11,317.00 f', " j.',,,,} 5,141.00 RECA.- PlTULA- TlON 7, Inter-Vivos Transftn & MisoeJianeous Non-Probate PrQpec1y (Schedule G or L) (7) 496,659.00 TAX COMPU- TATION S. Total Groas Assets (total Unes 1-7) 9, Funeral ~nses & Aelmini$lJ'ative Costs ($~"oc;j~lo H)(9) 10, I)eb~$ of O....O.n1. Mott;a;. Liabil'1j.~, ... Li.n~ i&ch*C'"le I) (10) 11, Total Deduetlons (total Unes S & 10) 12, N4lt V.I"e of Estate (Une 8 I'!'lInu$ Wne 11) 13, Ch.-itable and GOYermlel1taJ BeQuests/See 9113 Trusts lor whi::h an election to tax has not been made (Schedule J) I 14. Net Value Subject to Tax (Une 12 minus Une 13) SEE INSTRUCTIONS ON PA!".;d! 2 FOR APPLICABLE RATES 1 !;i. "'lI\oy~tol Lint 1<: ta_bl. ~1 th, 5PQur,altax 'at..crtfan$f.rsund.r$,o,~"e(&X'.2l X.O ('15) 16. Amounti;>l1.in. '~la~&blut 'in""lr.te 982,855.00 x ,0 -as- (16) 17. AllIollntotLine1~,.~bl..U.b;,ngrallO 0.00 )( .12 ('7') 18. AmQllnt 01 Ltne 14 taxabl. lrt Ci;> lI~t."" ,..te 5 , 1.41. 00 x. 'I ~ (1 S) 19. Tax Due (19) 20. 0 ~~~~~ii~l~l (3) 84,240.00 57,418.00 (11) (~2) (13) 1,129,654.00 141,658.00 987,996.00 Na1e (H) 987,996.00 44,228:00 0.00 771. 00 44,999.00 G P-.,SOO1 NT" 2~7$S COpyrlo~t 2000 ~r_tlAn~lN.1co LP - For",,, $01\.....r$ Ooly " !D,?l? 236 1816 MAR-l3-02 11,06 FROM,METTE EVANS WOODSIDE ".r . . Estate of: D:lnald D. Lel"Iran SUVMARY OF AI.iC..CO.TICNS 10 BENEFICIARIES ~le at lineal rate I):)Uglas B. Lebnan tavid D. Ieman Dennis R, I.elInan Kathleen Burke Barl::ara L. Baric Taxable at oollateral rate Jenette Fi.IJk.i.nbinder 343,013.00 343,013.00 98,943.00 98,943.00 98,943.00 982,855.00 5,141.00 PAGE 3/16 21-01-00629 MAR-13-02 11,06 FROM,METTE EVANS WOODSIDE 10,717 236 1816 PAGE '1/16 '. PA REV-1500 EX (6-00) o ed nt' Co I A . Page 2 ec e $ mplete . ST~ET ADDRESS 55 Kerr Road CITY !STATE , ZIP carlisle PA 17013 Tax Payments and Credits: 1. Tex Due (Page 1 Une 19) 2. Credits/Payments A. Spousal Poverty Credit e. Prior Payments C. Oisoount (1) 44,999.00 Total Credits (A · e + C) (2) 0.00 3. Intere$t/Penalty if applicable O. lntsres1 E. Penalty 1. Did deceo.nt make a Transfer and; a, retain the US$ or inoome of tho ~roperty transferrsd; ........,........... ..,.'"....... b. relah'l the right to de$ignate who shal use the property transflmed or its income; ......,...., O. retain a reversionary inter8St; or. . . . , . , . . .. ........,....,.............". d. receive the promise for life. of either payments. benefits or care? . . . . . . . ... . . . . . . . . . 2. If death occ...rred after D~mblir '2, 1982, did decedent tran$fer property iNithil'l one ye31 of dGath iNith<)iA r~ving ade~ua\e ool'l$ider~tion'? . . . . . , . , , . , . . .. ......,..... .. ....,. 3. Oid decedmt own an "in trust for" or payable upon deaTh bank aooount or security at hiS or her dlOl8th? .. 4. Did d~t own an lndiviClual Retiremsnt Account, annuity, or cthQl' non-problitte pro!>"rty w~h oontains a brlne1iciary desi9nation? . . . . . . . . , . . . . . . . . . . . . . . . . . . . , , . . . . , . . IF THE ANSWER TO ANY OF mE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN. Un~ ~nalt," of perLu~, I d$CIare that I have examined li'li, returnl including aeoompanying schGdUIe$ and statMlslW>, and to :he best of my kn~ and bene!, it is true, correct and com te. Oeeiarltion 0 preparer 011'1, the personal representative is based on information of Which re aT$r has an knowled GNAT~R e ESPONS16LE FRill ETt:RN' DATE Total Intlmlst/Penalty (D + E) 4. If Line 2 is greatsr tnan Line 1 + Un~:3, enter the difference. Thi, is the OVE~PAYMENT. Check box Ol'l Page 1 Un. 2D to request a refund (4) 5. If l.ine 1 + Une 3 il> greater than Une 2, enter the difference This is the TAX DUe. (~) 44, 999.00 A. Enter the interest on the tax due. (511) 0 . 00 B. Enlertlle total of Line 5 + 511. This is the BAlANCe DUE. (56) 44,999.00 i:i1ili~$~]~~~~r;t1~~!~E:i~i~~1i*M~Wl~\\~:~i1~~i~11~i~~rr~Mii;ii~~;r:ii)m~~~;;f;~~~~i;!;if~~*~i~~fi:~;;if~j\1rr.0~~r~ij':ll1~$1%:~~:!:~M~fr:1~!.~1m:~111~F~iM:~m~:~~:] PLEASE ANSWER THE FOu..OWlNG QUESTIONS BY PLACING AN "'x" IN THE APPROPRIAl"E BLOCKS Yes No ~ I ~ ~ (3) 0.00 ~ o 3(/9(C <.... , , DATE ~(r7/~<- ADDRess 3401 ~rth Fra1t Street, P.O. Box 5950, Harrisburg, PA 17110-0950 ~~~~~;~~~.*j~;:~;f:;j~;~~~~~~~H~~1~~~~~~1~W~~~~i~~f;~;~;~1~~1:~~'~~~~;~~~1~~~1~1~~~*i~~':~~~~;;~:~~:~fJ~~~t~::~gj~~,t[~~1~~~Lq~;~~~ii~;~~~~~~~~~~~~~~~~,;~;~r~~~Mf:~:~rJ:~i;;:;:~7~8~;~.;~$~~~;~~;~~~@j~~~~~~:~~;~~!~\~~~~~~:~~~*~~;~~;l~;;:t:~~~~~~:'~;ffl~~;::;~~:~:~;~~~~~~@~~;~; ~Ol' cates of d..a.th on or .fter July', "i4and before JanuoIry '. 1"5~ t!ie tax rate;.I'l"lCCtsed.Q-f1 -:hl' flet vatui:' of tral"'ts1el's1:c or ':or 'l;h, iJ;:. .)1 th. ..;...(l(i.....inSspQ~6e I~ ~~ (7~P.5,; 911& (.)(1.1) ('l). ~or date. of <leath Ctl or att~r JMuary t. 1995. the tu...t. is im~ose~ on lhe ""t ,..tue,t t'ant<t... ~o <>rfe., !h~ :Jseofthq .vry",;ng ~~US. is C% [1' P.$,. 11 9116 (l)p.l) (ii)). The $1;.~ut. do..~ l'Iet ~Yl!!mot" ~rar.$1.r to a surviving ';PCI.l$1't from tlX. a.!":d ~lie stat!/tory r@(fWf,gome<!ts ftH' OiSCilo,tJr, Q~ ~,ta: all~ Wing a. ta~ rctw.r~ ii'. '6tiil .J.ppHeable- !'v~n if t". surviving ,p~U.. i.'he only bqnof,olary. Fot d01.to$ Qt death 0" or afto!'r July 1, ZOOO~ TPtt ,*X r:s.~ impQG.4 0,", the t'letV8lul: of tran$tefS ~I'OI'\"l a decC'&::iC'd ch,ld t\venty-one Y19r~ of ..g. Of y':)t.rtge, at dtatn 1;1 ~!' for th" Uoie 0" a. netutaJ P.,.~r:'tf.n adopti-",e p;arent, or 4 Stfpp~rqnl of tho child i. O,/,. (72 1".5. Ul, S("X'.~)J The lax...te impOM~ On tfte net Y&lue Of tr~n.fo's 10 0' forthe un of lh. a.c'Conn line.., ben"';ci...'io.i. 4.~%, .".eotu n~..~ in n. 1",5.5 91 ,tl(, .2) r7Z P,S. 39' 1 t(aX1)J. Tho tax rUe impo".d on tn. n.tvalue of lran.f.,. to otlott.e "se of lho OeOldellfsaib(;n". i. '2.... (n P.S. 991 16(aX'.l:J. A,.,b'ml): I. O.f'noo. undor $.~"n 9102, a.s an individu"'l wt\o rtasat l..uton. ",,'.~tin co "'tI'lon with the d..,ed8nt. wh.t~"r by bloocl 0' ado~tiO~. o PA15002 NTF ~\lr5tl COPYl'\61ht 2000 Gr'!atfanc/Neleo I.'" - f!o(m~ SCftware Only MAR-13-02 11,07 FROM,METTE EVANS WOODSIDE ID,?17 238 1818 PAGE 6/18 . Estate of: Donald D. ~ . 21-01-00629 The following perscn(s) are signing the return as t:epresentativeCs) of the estate: Dennis R. Iebnan 53 Old Mill Road Laflin, PA 18702 Ulvid D. I.el:mm 30 Kerrs Road atrlisle, PA 17013 MAR-13-02 11,08 FROM,METTE REV-1502 ex .. (1-97) COMMONWEALTH OF PEN.'NtA INHERITANCe TAX REnIIII' RESIDENT DECEDENT ESTATI;OF !))nald D. I.ebran WOODSIDE 10,717 236 1816 PAGE 6/16 EVANS I J SCHEDULE A REAL ESTATE -: I FlU: NUMBER 21-01-00629 All ruI prclp8ITi owned solely Of" <as. ten.nt in ~mon must be reported at fair martlet value. Fair mar1<et value is defined a$ the price at Which J>I'Operty would be exchanged between II willing buyer and a wiRing seller, nei~r bl/ing corrp9l1QC! to buy or sell. both having reasonable ltncwl9dg9 of tha reklvant f~. R..r prcpeny which 1$loinUy-owned with right of survivorship must be disdo&ed on Sctleclule ~. ITEMl VALUE AT DATE NO. i CESCRtFTION OF DEATH ...... 1 I ~ Land - 61.14 aaes of v"aCant land in west Pennsboro I ~hip, Clutberlarxi Camty, Pe:msylvarlla; Deed Book 336-1035, I TIN 46-18-1404-012. Valuation based en Agrarian Asscciates ~sal. Fair rrarl<et value is $290,000. i i I I , I 2 LeJ:rren Iaixy l'axm - 113 acres of in'pJ::oved land in West l?ennslx>ro I I Township, Cl.mberlarxl Cbunty, Pennsylvania; Book 249, page 2565, i TEN 46-07-0479-022. Special use value tn'X!er S2032A elected and . it and fair market value based on Agrarian Associ.at:es appJ:aisal. Fair market value is $680,000. 28,610.00 325,290.00 I 3 Lel:m;m General ~ & P.esidence - 49 acres of inproved. lan:i in West Pennsboro ~p, Clmberland County, Pennsylvania; &x>k 290, page 711, 'I'm 46-07-0479-010. Valuaticn based 00 Agrarian I Asax'iates appraisal. Fair market value is $250,000. I 134,240.00 '!he items at this schedule are bein;; valued a.t their "actual use value" for PA. Inheritance 'lax purposes pursuant to 72 P.S. Section 9122. !be ~ values are part of the attached ~ of ltgrarian .As.~iates. '!he Section 9122 use values ware calculated based on the real estate tax Sectia1 319 preferential values for the prcperties. See attached reoords fran the Olmberland County Assesment Office. TOTAL. (Also enter on Itre 1, Recapitulation) $ (11 more space is n~, insert additional $l'llilGts of thll sam$ $'U) 488,140.00 1 CPA21 NTF 10104 MAR-13-02 11,08 FROM,METTE EVANS WOODSIDE 10,'117 236 1816 PAGE 7/16 . . EXHIBIT A-1 PENNSYLVANIA INHERITANCE TAX: RETURN SCHEDULE A - REAL ESTATE Estate of Donald D. Lehman Date of Death - 6/19/01 File No. 2001-00629 Clean & Green Valuation for Cumberland County Real Estate Decedent's interest in the 61.14. 113 and 49 acre tracts of real estate in West Pennsboro Township, Cumberland County were enrolled in the Act 319 Clean & Green program for real estate taxes. Those real estate tax values are being used for ir"1heritance tax purposes. The real estate tax values for Clean & Green purposes are set forth in the tax assessment records from the Cumberland County Tax Assessment Office and are attached hereto as an Exhibit. Fair Market Value The fair market value of the real estate and improvements was established through an appraisal performed by Agrarian Associates. The appraisal is attached hereto as an Exhibit. :289336 _1 Facetwin Scree :int for public, from "CAMA_Logi /21/01 9:25:52 AM CUMBERLAND COUNTY ASSESSMENT OFFICE CONTROL # 46001802 SO: 1 PARCEL: 46-18-1404-012. SPEC 10: LOT: Tback: DISTRICT: 46 - WEST PENNSBORO TWP short Name LAST NAME FIRST NAME C/O NAME ADDRESS1 ADDRESS2 POST OFFICE: STATE & ZIP: LEHMAN, DONALD 0 LEHMAN DONALD 0 55 KERRS ROAD CARLISLE PA 17013 113 46 61.14 J CURRENT VALUES Assessed Fair I FMV - 256210 L - C&G - 28610 B- approved? -> A T- Market 256210 o 256210 Situs: NEWVILLE prop Descrip.: LAND USE TYPE: NEIGHBORHOOD: DEEDED ACRES: ROAD Screen 1 Enter selection> Number -switch Screens, X -Exit, J -Jump Mode, Down Arrow -Next Entry, up Arrow -previous Entry, Record: 84624 F -Forms, I -Image ? -Screens, B -Browse 1 1 I I I I I I I I I I I 1 Facetwin Scree int for public, from "CMI1A_Log' " 8/21/01 9:20:19 Ai'<l CUMBERLAND COUNTY ASSESSMENT OFFICE DISTRICT: 46 - WEST PENNSBORO TWP SD: short Name LAST NAME FIRST NAME C/O NAME ADDRESS1 ADDRESS2 : POST OFFICE: STATE & ZIP: LEHMAN, DONALD ET UX LEHMAN DONALD 55 KERRS ROAD CARLISLE PA 17013 Situs: 55 KERRS prop Descrip.: LAND USE TYPE: NEIGHBORHOOD: DEEDED ACRES: CURRENT J Assessed I FMV - 666100 C&G - 324590 approved? -> A VALUES Fair L - B - T - Market 394730 271370 666100 ROAD 112 46 113.00 Screen 1 Enter Selection> Number -Switch Screens, X -Exit, J -Jump Mode, Down Arrow -Next Entry, Up Arrow -previous Entry, Record: 82932 F -Forms, I -Image ? -Screens, B -Browse Facetwin Screen print for public, from "CAMA_Login" 8/21/01 9:20:26 AM RESIDENTIAL CHARACTERISTICS Type: A PARCEL: 46-07-0477-022. OWNER: LEHMAN, DONALD ET UX Description: Lot TYl?e: Interior Stories Grou): 2 Dwelling Type: DETACH Terraln: Level Exterior wal : Bri ck Nbhd Type: RUR Sewer: septic Wate r : well Yr Built: 1880 Est: N Yr Renv: 1990 Est: N Road: paved Ag scrty: Y sidewalk: N Tota 1 Rooms: 8 Full Baths: 1 Gas Avl.: N Spr view: N Bedrooms: 4 Half Baths: 1 Hi stori c: N Wtr Frnt: N Dug Basement.: 100 % (Not Bi/Split Level) Rail Avl: N Tree Cvr: 0 Basmnt Garage: 0 cars Finished SqFt: Mobile Homes -(class )- Approx sqFt..: park: S#: eating \ Heating Type: Hot Water Sketch Living Area: 3460 Central A/e: NO Fireplace Count: 3 Figured Living Area: use Fi gu red L.A. ? I LIVING AREA USED...: 3460 Screen 2 Enter selection> Record: 82932 Number -Switch Screens, X -Exit, J -Jump Mode, F -Forms, I -Image Down Arrow -Next Entry, Up Arrow -previous Entry, ? -Screens, B -Browse -- .. . Facetwin screen pnnt for public, from "CArlA_Login" 8/21/01 9:21:53 AM 1 = One Story 2 = Two Story 3 = Three Story H = 1.5 Story (1. 67% Area) F = 1.5 Story (1.50% Area) A = 1.5 Story (1. 33% Area) Z = 2.5 Story G = Garage E = Enclosed porch B = Basement C = carkort D Dec P = o)en porch S = S ab +---------+ 17/G 25 I I I 138 I I 381 I 6 25 I ,~-+-------+ 9 816/E 6 +---+-------*-++------+--+ 13/PP 21 15/1 18 6+ I I 20 I 120 I 130 130 *--+ 14+ 1 9 1 6*4/D -----+--+6 ~,---+ I 26 6 11/2B 64\ 1 I 134 I 1 30 I ,~-----------+ 7+2/p -------+7 46-07-0477-022. Living:3460 Garage: 950 E prch: 48 LL Gar: 0 unf LA: 0 carprt: 0 Screen 3 Enter selection> Number -Switch Screens, X -Exit, J -Jump Mode, Down Arrow -Next Entry, Up Arrow -previous Entry, Record: 82932 F -Forms, I -Image ? -Screens, B -Browse Facetwin Screen print for public, from "CAMA_Login" 8/21/01 9:20:40 AM !u OUT-BUILDINGS VALUATION PARCEL NO: 46-07-0477-022. Type Desc. size Story SqFt Age condo Value 1: SHED CLS FRAME 5 x 5 1. 25.1920.p 2 : CORNCRIB FRAME 25 x 30 1. 750.1880.p 3 : CORNCRIB FRAME 6 x 42 1. 252.1880.p 4: MACHSHED FRAME 28 x 30 1. 840.1880.p 1680 5 : MACHSHED FRAME 16 x 26 1. 416.1920.p 832 6: LIVESTCK FRAME 26 x 20 1. 520.1920.p 1040 7: LIVESTCK FRAME 36 x 36 1. 1296.1997.G 9072 8: MILK PAR FRAME 36 x 44 1. 1584.1997.G 12672 9: LIVESTCK FRAME 112 x 60 1. 6720.1965.G 47040 10: LIVESTCK FRAME 36 x 40 1. 1440.1997.G 10080 11: SILO METAL 12 x 50 1. 600.1920.F 12: SILO METAL 12 x 50 1. 600.1920.F 13: SILO METAL 12 x 40 1. 480.1970.F 14: SHED OPN POLE 26 x 40 1. 1040.1920.F 1040 15: LIVESTCK FRAME 22 x 52 1. 1144.1920.F 4576 16: x Total Out-Building Value: 88032 Screen 4 Enter selection> Record: 82932 Number -Switch Screens, X -Exit, J -Jump Mode, F -Forms J I -Image Down Arrow -Next Entry, Up Arrow -previous Entry, ? -Screens, B -Browse FaceHvin Screen Print for public, from "CA"IA_Log' " 8/21/01 9:28:13 A\! CUMBERLAND COUNTY ASSESSMENT OFFICE DISTRICT: 46 - WEST PENNSBORO TWP SO: CONTROL # 46000314 46-07-0479-010. ID: LOT: Tback: short Name LAST NAME FIRST NAME C/O NAME ADDRESSl ADDRESS2 POST OFFICE: STATE & ZIP: LEHMAN, DONALD D LEHMAN DONALD D 55 KERRS ROAD CARLISLE PA 17013 Situs: 2267 NEWVILLE Prop Descri p. : LAND USE TYPE: NEIGHBORHOOD: DEEDED ACRES: ROAD CURRENT J Assessed I FMV - 302540 C&G - 134240 approved? -> A VALUES Fai r L - B - T - Market 190090 112450 302540 112 46 49.00 Screen 1 Enter Selection> Number -Switch Screens, X -Exit, J -Jump Mode, Down Arrow -Next Entry, Up Arrow -Previous Entry, Record: 83022 F -Forms, I -Image ? -screens, B -Browse FacetWin Screen print for public, from "CAMA_Login" 8/21/01 9:28:21 AM RESIDENTIAL CHARACTERISTICS Type: A PARCEL: 46-07-0479-010. OWNER: LEHMAN, DONALD D Description: Lot TYl?e: Rural Stories Group: 2 Dwelling Type: DETACH Terraln: Rollng Exterior wall: Brick Nbhd Type: RUR Sewer: se)tic Water: We 1 Yr Bui It: 1888 Est: N Yr Renv: 1960 Est: N Road: Dirt/Grv Ag Scrty: N Sidewalk: N Tota 1 Rooms: 8 Full Baths: 1 Gas Avl.: N Spr view: N Bedrooms: 4 Half Baths: 1 Historic: N Wtr Frnt: N Dug Basement.: 50 % (Not Bijsplit Level) Rail Avl: N Tree Cvr: 0 Basmnt Garage: 0 cars Fi ni shed SqFt: Mobile Homes -(Class )- Approx SqFt..: park: S#: I eating Sketch Living Are~ : Heating Type: Hot Water 2232 Central AjC: NO Fireplace Count: 0 Figured Living Area: I Use Figured L.A.? LIVING AREA USED...: 2232 Screen 2 Enter selection> Record: 83022 Number -Switch Screens, X -Exit, J -Jump Mode, F -Forms, I -Image Down Arrow -Next Entry, Up Arrow -Previous Entry, ? -Screens, B -Browse FaceH\I'; n screeeint for publ i c, from "CAMA_L0ge8/21/01 9: 28: 31 A:-'1 46-07-0479-010. Living:2232 Garage: 0 E prch: 0 LL Gar: 0 unf LA: 0 Carprt: 0 1 one Story 2 Two Story 3 Three Story H = 1.5 Story (1.67% Area) F 1.5 Story (1.50% Area) A = 1.5 Story (1.33% Area) Z = 2.5 Story G Garage E = Enclosed porch B Basement C carport D Deck P open porch S slab 17 +------------+ +----------------*4/P --------+-----------------+ 11/2B 62 I I I 118 1 I 181 I 10 62 30 I *----------+-------*-----+----------------------* 4+3/p ---+4 4+2/p ------------------+4 10 30 Screen 3 Enter Sel ecti on > Number -Switch Screens, X -Exit, J -Jump Mode, Down Arrow -Next Entry, Up Arrow -previous Entry, Record: 83022 F -Forms, I -Image ? -Screens, B -Browse Facetwin Screen print for public, from "CAM~Login" 8/21/01 9:28:36 AM !u OUT-BUILDINGS VALUATION PARCEL NO: 46-07-0479-010. Type Desc. Size Story SqFt Age condo Value 1: MACHSHED FRAME 50 x 27 1. 1350.1888.P 2700 2: BANKBARN FRAME 60 x 50 1. 3000.1888.p 6000 3 : SHED CLS FRAME 16 x 16 1. 256.1888.p 256 4: SHED CLS METAL 17 x 50 1. 850.1888.p 850 5 : SHED CLS BLOCK 15 x 16 1. 240.1888.p 240 6: x 7: x 8: x 9: x 10: x 11: x 12: x 13: x 14: x 15: x 16: x Tota 1 out-Building value: 10046 Screen 4 Enter sel ecti on > Number -Switch Screens, X -Exit, J -Jump Mode, Down Arrow -Next Entry, Up Arrow -previous Entry, Record: 83022 F -Forms, I -Image ? -Screens, B -Browse MAR-13-02 11,08 FROM,METTE REV-1503 EX + (1-~7) COMMONWEALTH OF PENNSA.IA !NHERITANce TAX RmP RESIDENT DECEOENT ESTATE OF D::nlid D. Lel:Jnan EVANS WOODSIDE 10,717 238 1818 PAGE 8/18 SCHEDULE B STOCKS & BONDS FlU: NUMBER 21-01-00629 All property foInay-owned wlth right 01 survivorship must be disclosed on SGhedule F. 1l1:M NO. OeSCRIPTION VAI.UE AT DATE OF DEATH 1 Vanguard High Yield Cb~te F\md. .Account #9892734381. 9,933.00 2 P.roct.or & Ganble C'<Alcu:n st:cck l8,464.00 TOTAL (Also enle' on fi'" 2. RecapitUlation) 1$ (If more space is needQd, inwl't additional sheets of the same size) 28,397.00 7 CPA3t NTF 1 O!lO~ r.nftYfil't'" Jit'lotm1l.: ~"~.w~r,. n"l" 100'7 j\1.1,.f\ I"".... MAR-13-02 11,08 FROM,METTE EVANS wOODSIDE 10,717 236 1816 PAGE 8/16 REV-1508 EX + (1-97) . SCHEDULE E CASH. BANK DEPOSITS, & MIse. PERSONAL PROPERTY COMMONWEALTH OF PENNSYLVANIA INHERITANCe TAX RETURN RESIDENT DECEDENT E$TA~ OF Iaulld D. l6man FILE NUMBER lnolu4e prOc:.eed4 of ntrg.>ti9n "MI. prOO'''''' W$(. received by the ..~t;>~.., AIII)I'CC. loi' - 21-01-00629 with right of SUMVOI'$hlD mU$t be disclosed on Sch. F. VALUe: AT DATE OF DEATH ITEM NO. DESCRIPTION 1 loan receivable - Debtors, I:Ouglas B. I:eb:tan arrl David D. Lehman, in the principal an'O.lnt of $91, 627. 7S and accrued interest of $620.05. 92,248.00 2 M&T ~ Acct. #2678024056, includi.ng $3741.54 of principal and 3,752.00 $10. S5 of accrued interest 3 Waypoint Bank .Acct. #0090212127 14.00 4 Autan:bile - 2000 Buick century Sedan 13,700.00 5 Federal incx:ma tax refun::1 - 2000 592.00 6 Vehicle warr.;mty refund 711.00 7 Federal inocrre tax reba~ check 300.00 I TOTAl (~enter on liM~. ReeapitlJlalion) 1$ (11 rTlOlll spacQ is needed. In$ert additional sheets of the same ~) 111,317.00 7 CPM1 NT!" 'o~o, CQPyrigilt ~orm. Softww. OnlY, 1~~1 N.,eo,lnO, MAR-13-02 11,10 FROM,METTE EVANS WOODSIDE 10,717 236 1816 PAGE 10/16 COMMONWEAL.TH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECED~NT ESTATE OF Ialald D. I.etman SCHEDULE F JOINTLY-OWNED PROPERTY . ":;V~1509 EX + (1-97) FILE NUMBER 21-01-0062~ If an ass.et was ~e 100nt wlmln one YeM of the decedent's date oi dutil, It must be reported Qn ~hedule G. SURVIVING JOINT TENANT A Jenette Finkinbinder ADDRESS 601 Greenspring Road i Newville, PA. 17241 FlELA TIONSHIP TO DECEDENT Unrelated JOINTLY-OWNl;O P~OF'ERTY: LHTER ITEM lo~~T NO. T~NANT DATE MADE JOINT DeSCRIPTION OF PROPERT>( Include name 01 financilll institution and bank account number or SImilar identitying number. Attacrl deed for jointly-held real estale. DATE O~ DeATH VA...uE OF ASSET %OF DECO'S INTEREST OATE OF DEATH VALUE OF OE~EDENrSINTEREST 1 A Fanners National Sarok - Certificate of ~it #rsH 00984 , in t~ principal arrount of $10,000, and aocroed interest of $281.29. 10,281.00 50 5,141.00 I I I I ~ 1 CPA91 NH '090~ TOTAL (Also enter on line S. Recapitulation} $ (If more sp~ Is n~. insert additional she{..ts of the S&ITle size) 5,141.00 CoPyrl9ht ~onlra Software Only, '9~7 N,reo, IrlC. MAR-13-02 11,10 FROM,METTE EVANS WOODSIDE 10,717 236 1816 PAGE 11/16 REV-1510 EX" (1-97) . I .' I SCHEDULE G : I INTER-VIVOS TRANSFERS & I I MISC. NON-PROBATE PROPERTY I . COMMONWEALTH OF PENNSYLVANiA INMl:I'\JTAN';;C: TA;o; f\Ul,.If\N RESICENT oeCEDENT ESTATE OF Dxlald D. reman FILE NUMBER 21-01-00629 This schedul9 must be oompleted and 1lJed it the anS'Wet' Ie any or questions 1 through 4 on the reverse side of the REV-1000 COVER SHEET is YII$. DESCRIPTION OF F'ROPERTY %OF I EXCWSION [rEM INCLUDe NAME OF THE TRANSFEREe, THEIR DATE OF DEATH DECO'S I ifF TAXABLE VALUE RELATIONSHIP TO DECO & DATE OF TRAN$~EFl. NO. ATTACH COPY OF THE oeeo FOR REAL ESTATE. VAI.UE OF ASSET INTEREST APPUCABLE\ 1 First unicn Securities Account 80,702.00 #50262350 - IRA aca:xmt. See attached EKhibit for ~e G, Itan B. 1. for underlying irn'eStments 2 First union Securities k:cou:nt 415,957.00 #50262348 - transfer on death I account. See attached Exhibit for I ScheChlle G, Itan B. 1. for I underlyi.rq investments I I I I , i J 7 CPA01 NU 10910 TOTAL Ar,o enter 0.'1 line 7, Recapitulation' $ (If I'l'lOfe space is needed, inS€lt additional $~ts 01 the same size) 496,659.00 Copyright ~or..s So1twat~ Only, ,..,. NoOCo, InC, ~AR-13-02 11,11 FROM,METTE EVANS WOODSIDE 10,717 236 1816 PAGE 12/18 REV-1511EX .. (1-97) . SCHEDULE H FUNERAL EXPENses & ADMINISTRATIVE COSTS COMMONWEALTH OF PENNSYL.VANIA INHe~ITANCETAX RETURN RESIDEm DECeD!NT ESTATE OF Iblald D. I.eh'nan FILE NUMBER 21-01-00629 Deb.. at decedent must be ITEM NO, A. IlUNERAl EXPENSES; on Scltec:lule I. DeSCF\tPTION AMOUNT 1 ~ Brothers F\meJ:a1. tbre 2 Cl.m:berlaOO Valley Mem:rial Gardens 3 Fl~ by ~ Lakes 4 Food ~ for funeral nea1 6,739.00 815.00 186.00 257.00 e. AOMINISTRATIVE COSTS; , . P~nal Representative's CommiS8lOl'lS Name of personal Fll!I)resantative(s) See Schedule attached Sodal SeaJrity Numbef(s)/EIN No. of Personal Representa1il/e(s) Street Adclte$S CIty State Zip 35,000.00 yw(a) Commission Paid: 2. 3. Attorney Fees Name: lVette, Evans ~ Vib:dside FlII'Tlily Exel'nJ)oon: (If decedenfs addre$9 i$ not the same Q claimant's, ~ttach liIxplllnatiQnl Claimant SVeel Mdr9$S City St!lte Zip Relation&hip of Claimant to DeceOen I 35,000.00 0.00 0.00 4. Probate Fees 5. Accountanfs Fees 500.00 6. Tax R4tll.Irn Preparer's F"" 0.00 See Schedule at:t:ached 'IQtal f:r:an ocntinuation page(s) 5,743.00 TOTAl(Also enteron line 9. RGC<IPilulation} $ (If more space is needed, in$ert additional sheets of the same Sin) 84,240.00 7 CPA11 NT~ 10911 Copyright "Ot!!l~ SoTtw"'o OO'y, lijij7 Nol"", Ine. MAR-13-02 11,11 FROM,METTE EVANS WOODSiDE ID,717 236 1816 . E9tate of; D:::mald D. I.ehm:m Item lb. . srnEIXJLE H, P1>RI' B -- Per'~ Representative' 6 Ccmnissions 1 Descript.ion NaIre : Snci A' security number: Street address; City, State and zip; Year ccmnissions paid: 2 Narce : Social security rud:er: Street acklress: City, State and Zip: Year o:mnissions paid: Dennis R. Lehman 53 Old Mill Road Laflin, PA 18702 2002 David D. Lehrran 30 Keno Road carlisle, l?A 17013 2002 'TOTN". (<::any forward to mrin schedule; . . . . . . PAGE 13/16 Page 2 21-01-00629 Am:1lmt 17,500.00 17,500.00 35,000.00 MAR-13-02 11,12 FROM,METTE EVANS WOODSIDE 10,717 236 1816 . . Estate of: D::mald D. Lem1an saiEUlLE H, PARI' B -- Muinistrative Costs Item ~. ~~~ 7 Prd::ate and legal notice fees - Register of Wills, Q.:IJrberlarrl County, Sentinel an:i 0.IttJer laId law Jcm:nal 8 .Agrarian Associaces - appraisal. fees for: :teal estate appraisal 9 Real estate taxeS - clJaJ::ge at 12/06/2001 sale to salS, D:'A.lglas B. Iehroin an::i David D. Ieh'ran 10 Miscellaneous ~ to close estate 11 Jackson's Auto service - auto repair 12 Erie ~ Gra.Jp - autarobile i.nsurance 'IOrN". (Can:y forward to main schedule) . . . . . . PAGE 14/16 Page 2 21-01-00629 ~t 718.00 2,400.00 2,077.00 500.00 27.00 21.00 5,743.00 MAR-13-02 11,12 FROM.METTE EVANS ~OOOSlDE . 10,717 236 1816 PAGE 15/ ] 6 REV-1512 EX... (1-97) . . COMMONWEAl.T1-f OF PENNSYLVANIA INHERITANCE TAX R.ETURN ~e$IOENI OECEDeIl/T eSTATE OF IXx'lald D. r.eman IrQJQ9 unreimbursed medical exD$ngeS. ITEM NO, SCHEDULE I DEBTS OF DECEDENT, MORTGAGE L1ABIUTlES, & UENS FILE NUMBER 21-01-00629 DESCRIFnON AMOuNT 1 Carlisle Pathology Associates - nmica1 services 2 Graham Medical Clinic - medical services 32.00 52.00 3 D:xlald Schl.ansky 1M. D. - ll'IErlica1 services 4 Hershey Kidney Specialists, Inc. - rrEdical sevices 29.00 170.00 5 Omtral PA HEMA &: Med cnc Assc<::iates, P.C. - rredical serviceEl 85.00 6 IntenJal Revenue Service - tax liability for decedent's final retU1'l1 19,000.00 7 I>A ~ of Revemle - tax liability for decedent's final return 3,000.00 e Weatherly investnent acoount - nargin loan 9 Jl.gCb:>ice Farm Credit - Farm rrortgage (33.3%) 10 Allfirst - car loan 68.00 27,342.00 7,640.00 7 CPA12 NTlf 10912 TOTAL (Also enter or: line 10. ReclPitullltiont $ (If mora space is needQd, iOSQrt addlnonal sheets of thQ satTle size) 57,418.00 CC=oyritJhtF'arms Saftwsre Only. 'SlI1 NelC;O.lnc:. MAR-13-02 11,13 FROM,METTE EVANS WOODSIDE . 10,717 236 1816 PAGE 16/16 . . REV-1513 EX + {1-91) . SCHEDULE J BEN EFICIARIES COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN ReSIDENT OECEDENT EST....Te OF FILE NUMBeR No. NAME AND ADDRESS OF PeRSON(S) RECEIVING PROPeRTY J. TAXABLE DISTRIBUTIONS (include outright spousal diSlributions) 21-01-00629 RELA TIONSH IP TO DECEDENT AMOUNT OR Do Not Ust Trustee(s) SHARE OF ESTATE Conald D. ~ 1 Dc:uglas B. Lehum 55 Kerrs Road Carlisle, PA 1701.3 Son 343,013.00 2 IEvid D. Ietnan 30 Kerrs Read Carlisle, PA 17013 san 343,013.00 3 rmnis R. Lelmm 53 Old Mill Road Laflin, PA 18702 Son 98,943.00 4 :Kathleen Bt.n:Ke 723 Scuth Rd:erts Road Bryn Mawr, PA 19010 5 Bal:'bara L. Baric 336 Bcn'rjbrcd< Road Carlisle, PA 17013 6 Janette Finki.nbinder Unrelated 5,141.00 601 Qreenspri.ng Road I Newville, PA 17241 ENTER onl LAR AMTS. FOR DISTRIBS. SHOWN ABove ON LINES 15 THROUGH 17 AS APPROPRIATE ON REV 1500 COVER SHEET 11. NON-TAXABlE DISTRIBUTIONS: A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX 15 NOT BEING MAOE Daughter 98,943.00 Iaughter 98,943.00 N:lrJe e. CHARITABLE AND GOVERNMENTAL DISffiIBUTIONS None TOTAL OF PART If -- ENTER TOTAL NON-TAXA.BLE DISTRIBUTIONS ON LINE 13 OF REV 1500 COVER S~EET $ 0.00 7 CPAt3 NTF 10913 (If morG space is ooeded, irlSllrt additional SI'leel$ of t"e same si:e) COp)'T.ghl Fqrm$ $011""&.. OfIly, 1 99! Nelco, In"'. 12/13/2001 17:27 OSS LAW OFFI~ 71 72495755 . last Bill etuh QItsletuttnl I, DONALD D. LEHMAN. of West Pennsboro Township, Cumberland County, Pennsylvania, declare tnis in5trument to be my Last Will and Testament, hereby expressly revoking all Wills and Codicils heretofore made by me. ONE~ I direct my Executor to pay all of my debts, funeral and administrative expenses as soon as may be done conveniently after my decease. ~ I give, devise and bequeath the two farms consisting of all improvements and real estate situate in West Pennsboro Township, Cumberland County, Pennsylvania in accordance with the provisions of a buy-sell agreement entered into with my sons, Douglas B. Lehman and David D. Lehman, a copy of which is attached hereto and marked Exhibit "AP. THREE~ I give, devise and bequeath all rest, residue dnd remanider of my estate of every nature and wherever situate to my children, Dennis R. Lehman, David D. Lehman, Kathleen J. Lehman, Barbara K. Lehman, and Douglas B. Lehman, ;n eQual shares, per stirpes. If any of my aforenamed children should predecease me, their share shall be distributed to their issue who survive me. If any of my aforenamed children should predecease me without living issue, then their share shall be distributed equally to my Children who survive me or the issue of .8 ch1ld who has predeceased me, but only to the extent my ch11d would have received if alive at my death. PAGE 02 12/13/2001 17:27 OSS LAW OFFI~ 71724%755 . " f2Y!: I nominate and appoint Dennis R. Lehman and David D. Lehman to be the Co-Executors of this my Last Will and Testament. ~IVE: My Co-Executors may, at their discretion, compromise claims, borrow money. retain property for such length of time as they may deem proper; lease and sell property for such prices, on such terms, at public or private sales, as they may deem properj and invest estate property and income without restriction to legal investments. .ll!:. No Co-Executors acting hereunder shall be required to post bond or enter security in this or any jurisdiction. this IN WITNESS WHEREOF, I have hereunto set my hand and seal ~ day of Harch, 1988. ~~_~Y:(SEAL) Signed, sealed, published and declared by DONALD O. LEHMAN, the above-named Testator, as and for his Last Will and Testament, 1n the presence of us, who, at his request, in his presence and 1n the presence of each other have subscribed our names as witnesses hereto. . ~""~_111-,B. ~ -~- ~- 0l - -'d~'Er:-h,.._.t:~. :,,/~~~ - 2 PAGE 03 12/13/2001 17:27 .1 DBS LAW DFFI~ 7172495755 . ACKNOWLEDGEMENT !!Q AffIDAVIT WE. DONALD D. LEH"AN. JEAN M. RICE and SHARON L. SCHWALM. the testator and witnesses respectively, whose names are signed to the foregoing instrument. being first duly sworn, do hereby declare to the undersigned authority that the testator signed and executed the instrument as his Last Will and that he had signed willingly. and that he executed it as his free and voluntary act for the purpose herein expressed, and that each of the witnesses, in their presence and hearing of the testator. signed the Will as a witness and that to the best of their knowledge the testator was at that time eighteen years of age or older, of sound mind and under no constraint or undue influence. :fr~~E~ ~\ . . :J'l1.0.c"...-_ \s..nn I~ Rt!r"'~ )r~~r~~~ COMMONWEALTH OF PENNSYLVANIA; COUNTY OF CUMBERLAND S5. Subscribed. sworn to and acknowledg~d before me by DONALD O. LEH"AN, the testator, and subscribed and sworn to before me by JEAN H. RICE and SHARON L. SCHWALM, witnesses, this ~ day of March, 1988. RETZI A. stORR CARLlSLE80RG. UMBfRLAND COUNTY MY COtlMISSIOtl EXPIRE3 OfC. 15. 1988 1lI.)mbcr. Penniy!vania Auoci3t:vll of N(l~~:';~1 PAGE 04 12/13/2001 17:27 OBS LAW OFFICE . " ~."" . 71 724%755 . DONALD O. LEHMAN ~UV - StIL ~GREEMENT --- THIS AGREEMENT is made and concluded this 28th day of September, 1986, by and between DONALD D. LEHMAN, of West Pennsboro Township, Cumberland County, Pennsylvania; AND DOUGLAS B. LEHMAN and DAVID O. LEHMAN, both of West Pennsboro Township, Cumberland County, Pennsylvania. WHEREAS, DONALD D. LEHMAN desires to keep the ownerShip of two farms situate in West Pennsboro Township. Cumberland County, Pennsylvania, together with all the buildings and other improvements in his family during his life and following his death. NOW THEREFORE, in consideration for the legal su~ of One and no/laD ($1.00) Dollar which has been acknowledged and received by him and intending to be legally bound thereby, DONALD D. LEHMAN hereby agrees that: 1. The first farm together with the house, the farm buildings and all lands situate at R. D. '4, Box 433, Carlisle, West Pennsboro Township, Cumberland County, Pennsylvania, tog~ther with the 2nd farm and all improvements end buildings $itu~te in PAGE 05 12/13/2001 17:27 aBS LAW aFFI~ 7172495755 . West Pennsboro Township, Cumberland County, Pennsylvania, sholl be the subjects of this BUY-SELL AGREEMENT. They are currently owned legally or eQuitably by DONALD D. LEHMAN, individu~lly. The first farm together with the house, the farm buildings and all lands situate at R. D. #4, Box 433, Carlisle, West Pennsboro Township, Cumberland County, Pennsylvania, together with the 2nd farm and all improvements and buildings situate in West Pennsboro Township, Cumberland County, Pennsylvania, shall be the subjects of this BUY-SELL AGREEMENT. They are currently owned legally or equitably by DONALD D. LEHMAN, individually. 2. DONALD D. LEHMAN hereby agrees not to sell or convey the properties during his lifetime to anyone but DOUGLAS B. LEHMAN and DAVID D. LEHMAN or their estates for the price set forth in Paragraph Four (4) of this Agreement. 3. Upon his death, DONALD D.LEHMAN in his Last Will and Testament shall provide that if not previously sold or conveyed during his lifetime as set forth in Paragrph Two (2) of this Agreement, that the farms set forth above shall be sold by his Estate to DOUGLAS B. LEHMAN and DAVID D. LEHMAN for the price set forth in Paragraph Four (4) of this Agreement. 4. Pursuant to the real estate appraisal of Steven W. Barrett, ? ~ PAGE 05 12/13/2001 17:27 7172495755 . OBS LAW OFFI~ SRA, CRA, dated October 3, 1986 and attache~ hereto and marked Exhibit "An, the sales price of the farms and real estate whether during the lifetime of DONALD D. LEHMAN or at his death shall be set forth as follows: a. First Farm in its entirety.............$250.000.00 consisting of $85,000.00 for the house and one (1) acre and $175.000.00 for the rest of the land and farm buildings. b. Second Farm with the land and buildings.$ 73,500.00 TOTAL PRICE.......$323.500.00 5. The price set forth above must be paid within ninety (90) days of the death of DONALD D. LEHMAN or the execution of an Agreement of Sale by DAVID D. LEHMAN and DOUGLAS B. LEHMAN to DONALD D. LEHMAN or his Estate. DAVID D. LEHMAN and ~O~GLAS 8. LEHMAN may use the proceeds of any insurance which they purchase to provide benefits upon the death of DONALD D. LEHMAN. 6. DAVID O. LEHMAN and DOUGLAS B. LEHMAN do hereby agree to pay the consideration of the farms set forth above in Paragraph Four (4) of this Agreement and as herein otherwise provided. ~ J PAGE 07 12/13/2001 17:27 7172495755 . OSS LAW OFFI, 7. The parties hereto intend to be legally bound by the terms of th1~ Agreement and it is further intended that it shall bind the heirs, exec~tors and administrators of the parties. IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day and year first above written. WITNESSETH: I. ~ ~~t:~rI!Jl;&P??>eh:(SEAl) 71;e~.e.L (SEAL) L;2lI_~H~ (SEAL) .' PAGE 08 12/13/2001 m lIl....LtOJl. A ......_-.... 17:27 7172495755 OSS LAW OFFICE ::~~~N ;;.~E.T~:I~:~I~~STA TE . 124.f2& NORTH HANOVER STREET CARLI'LE, PI. 17013 (711) 2.3.1'.8 PAGE 09 October 3, 1986 Marcus A. McKnight III. Esquire Irwin, Irwin & Irwin 60 West Pomfr~t Street Carlisle. FA 17013 Re: Donald n. Lehman Properti~s R.D.I/4. Box 433 Carlisle, PA 17013 Dear Attorney McKnight: In compli.nce with your request, I have personally inspected the above captioned property to estimate its present market value. The value aho~ h.s been arrived at after careful study of the location and type of improvements, their present physical condition and their present use. Therefore. I believe it to ref!ect a true measure of the present-day market value as of September 28, 1986. Values Reported: House and 1 acre - EIGHtY-FIVE THOUSAND DOLLARS ($85.000) Acreage and Farm Buildings - ONE HUNDRED SEVENTY-FIVE THOUSAND DOLLARS ($175,000) First Farm in its entirety - TWO HUNDRED FIFITY THOUSAND DOLLARS ($250,000) Second Farm, acreage and buildings - SEVENTY-THREE THOUS~~D rIV~ HUNDRED DOLLARS ($73.500 1 hereby certify that I have no financial interest. present or contemplated, in this property. and that neither the employment to m~ke the appraisal nor the compensation therefrom is contingent upon the value reported. Sincerely. 5 ~ "U j;;ty(- # STEVfN W. BARRETT, SRAt CRA APFRA1SER EXHI B I'f "1\" , ,- . . SSOCIATES, INC. APPRAISAL REPORT FOR LEHMAN LAND ~ -- . . '':''~4.,~.......;...''"''''''''-'''''''.>'''-'''-'';'''' ,',"'. "." '"~~, ..,J . LEHMAN LAND . FIELDS FIELDS . LEHMAN LAND . FIELDS FIELDS . LEHMAN LAND . FIELDS FIELDS . LEHMAN LAND . FIELDS FIELDS . . LOCA liON MAP ) --r- ;--1 I', I " ( \Entlerville ~ (~) \/~" ",I, \, , /) ~ \ '~, ' 1/ ( ,,~r'--:-'~' ,tA \ \4~~/) <0"1 \ \l?' I ~/"- ;:::/ l \ '. ~/ ~' ~ j I >" C / '><" ,j~ , ! <P \~, r l5' ~) ~~ (/ ~------i~ a~ \ ~ 'i ~) K I ,,~j 1~,- 'l:P "-, \, Y " --~~.s 'ii/~ '. \ CJ BI~,r:ville>"::Et-,_ \ \:/1' '-' /\ ,,~~> (\) \' ",~ ~~ . I.t;~ \ -- - . ell ) ""--.j .-'>- j <0/ J ~ - /'. / ~( \)~ /\ \ ~ ~ cf/ ~Y' , C5i ( I -l> \ (----'-----" \ l' ( i" ---- .J '-~~\" ~ (j) (>------- I '" T46'\) 0 \ "'" //-/ "'. ( (' ~~ ,/~~"~\ /'~\'EI \. --<-.b<ro'J \~~1 \cf'-) ,( .x, 0>, / r A I, ~ ~\ "' -.~, \ <.:----,,~...,:of y / ).-- " ;.;;.1 \ () \ '3 4025 I' J' ------ .1.,_ " ') '\ \1 f~ / - ,/ ,:::<:.:J; ,/'^~C6 .-\ ~~\\ "\ J;. f~/i rq T~ I ~r/ x.;- ''-i~ (/ / ',~ ~>~r cP)1 \\\ /jr/.-~~~-LL-<J/ // \~<:9. " ~ ,_, 0 ..s> \..... I \ ,\ "/' ff ," 0- -, ij> 'l)- ; \1"\ ~,------, '\,/, / \ _~ ,I-" -"j ~ C' ~" )~---, ,.--c' .. ---- '"," v ( ( \ I, /,/ -~~~40199) I r-...",~' ~ Q:",__ //"\ - --- " "~'I / /\ ~\ '.... \ . , ' \(Sl ~~ / \ / / /), ~u ;/ 1'& ,;./~,' _//~ LEHMAN LAND I //~\~~3-Y '~ (lJ I \~ OJ / " . i"", leld '.f"" 'fl' \ ~\I.le ~'-<0 ClJ / <p "~"/ \\6~1 , ~ ' ___ ,_ ;::::- _L \ /;::-- ~,,/ *' ' '"\, ,- 00 ./ cr, ~ _ r \ // ~' /<9, .--~ c: \ '~""Y' .....L f ' ,/ g -\ .:(\'\e\9~/\~- \ __________" '-"'" "\ ' IS' "0 (" -- iE \~~T '>i. '"", , Q '\~ \ c: ,./' C9..------' ;' 0. // \~ 4 == - ~ ~. / ,?--Q /" ( :::z I '~I \ '~ ) ~\\s\e-, . , / <9 l..t .. ---.i CI" <,>0. ~ ; Go. I ' , 12.. ; (l) "0 i .. ',::IX 8d, ~e ,~_ .~ l~ // '-( ',,1} A ~ 0::/ / - - _" "5J:>"O// <'2.0) v' ':0-/ ( oj , ---,,) , ",,?>\~J 0' ,,- I "0 ," ero /. ,~" '~. ~" / I '> S<-'/ " Cil 0'''-' f n:: : / ",,/,-;:'oi'J(j ,\ 01 ~~_'-i~--,-, := i '--"-, 0Cf}' I / - I / 00{~ <- ,c/ """ ~)d J-- - - \,~ ---- /~! -~,.t-t: ~'~:rcJ3'.c... / I \\ '9--~ " Mount Rock R~+J ' "I \~ J 1'0- - '...--- ---, '<:-0,'..----.... ;;;,.<::;;' )\ ~I ' ~-$'/--- ~o:.,' / / / r<. .---/ < ? / /' '-ly.z. \ \ \ \ R' '" \ /" Ichlaro,., R \ / /' ' '''V ttl h' .. -;~ ~ ~ '--~- \ ~ <: \ 1<- \ {J 0 -, "V- I (lJ f (l<< [, ljf-; -J ~ I ij>,.. \~ - ~ j <',," 'y.---- ,- / .--c" , ~/ /->-/ / I "..., v/ / ;' , (- \ <9<<\, /~0.'- ;' ;, 97./"':: ) \~<S>" ~ " 0' '... \ ") \ '-. ' \. ( \ \ " \ \ .--/\ ''''--- \ \ \-\ \ \ \. 3 W Old y~lik Rd Om; 2 '"'- Streets98 Copyright e 1988-1997, Microsoft Corporation and/or its suppliers, All rights reserved, Please visit our web site at http://maps,expedia,com, Page 1 . . Real Estate Appraisal of Donald D. Lehman Estate Land Kerrs Road Carlisle, PA 17013 Cumberland County, Pennsylvania 61.14 Acres Prepared For: O'Brien, Baric, and Scherer 17 West South Street Carlisle, P A 17013 Prepared By: Agrarian Associates Inc. 243 South 8th Street, Suite 2 Lebanon, P A 17042 Effective Date of Appraisal: June 19, 2001 Date Submitted: January 8, 2002 . . AGRARIAN ASSOCIATES INC. 243 South 8th Street, Suite 2 Lebanon, P A 17042 APPRAISAL REPORT I. Introduction . . APPRAISAL DIVISION BRIAN D. PEDRICK, IFAA State Certified General Appraiser License #GA-001200-L 243 S. 8th Street, Suite 2, Lebanon, PA 17042 (717) 228-1510 FAX: (717) 228-1512 e-mail: agrarian@nbn.net January 8, 2002 Mr. David Baric O'Brien, Baric and Scherer 17 West South Street Carlisle, PA 17013 Dear Mr. Baric: In accordance with your request for appraisal of the Donald D. Lehman Estate Land located along Kerrs Road, West Pennsboro Township, Cumberland County, I have estimated the fair market value of the 61. 14 acres without improvements to be as follows: As Is ***Two hundred and ninety thousand dollars*** $290,000 The interest being appraised is a fee simple estate. The effective date of appraisal is June 19, 2001, the date of Mr. Lehman's death. I have made a careful study of the property and all related data and information documented in the report. I have considered all appropriate approaches to value and have complied with the intent and purposes of the Uniform Standards of Professional Appraisal Practice (USPAP) and procedures and regulations pertaining to this Limited Summary appraisal. I trust that you will find this report complete and to your satisfaction. If you have questions, feel free to contact me any time. \ Bria . Pe lck, IF AA State Certified General Appraiser SPECIALIZING IN CERTIFIED: FOR NON-BIASED: . Fair Market Values . Agricultural.Use Values . Conservation Easement Values . Marketing . Taxation Estate Planning . Settlements. . . CERTIFICATE OF APPRAISER: I certify that, to the best of my knowledge and belief. . . 1. This appraisal is in compliance with FIRREA, Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 and conforms to the Uniform Standards of Professional Appraisal Practice (USP AP) for a Limited Summary appraisal report. 2. The statements of fact contained in this report are true and correct; 3. The reported analyses, opinions and conclusions are limited only by the reported assumptions and limiting conditions and are my personal, unbiased analyses, opinions and conclusions; 4. I have no present or prospective interest in the property that is the subject of this report and I have no personal interest or bias with respect to the parties involved; 5. My compensation is not contingent on an action or event resulting from the analyses, opinions, or conclusions in, or the use of, this report; 6. My analyses, opinions and conclusions were developed, and this report has been prepared in conformity with the requirements of the Code of Professional Ethics and the Standards of Professional Practice of the National Association of Independent Fee Appraisers; 7. A personal inspection of the property was made and is reflected by the supporting data documented in this report; 8. Based on all elements that could reasonably affect the value of the Donald D. Lehman Estate Land property and considering the Assumptions and Limiting Conditions contained herein, I have estimated the fee simple market value of the subject property, as of June 19, 2001, of: As Is d ninety thousand dollars*** 290,000 Brian D. Pedrick, IF AA State Certified General Appraiser License # GA-001200-L January 8, 2002 4~~ t'~~M" Epsucheolige L. Hoffman Appraiser's Assistant January 8, 2002 . . STATEMENT OF LIMITING CONDITIONS THIS REPORT, INCLUDING THE CERTIFICATION CONTAINED HEREIN, IS MADE EXPRESSLY SUBJECT TO THE FOLLOWING LIMITING CONDITIONS: (1) The report is not an authorized copy unless it is signed in blue ink. (2) Possession of this report, or a copy thereof, does not imply the right of publication nor the right of use for any purpose by anyone other than the client to whom it is addressed, without the written consent of the appraiser. (3) Neither all nor any part of the contents of this report shall be conveyed to any person or entity, other than the appraiser's or firm's client, through advertising, solicitation materials, public relations, news, sales, or other media without the written consent and approval of the authors, particularly as to valuation conclusions, the identity of the appraiser or firm with which the appraiser is connected, or any reference to the appraiser's affiliation with any professional appraisal organization or designation. Further, the appraiser or firm assumes no obligation, liability, or accountability to any third party. If this report is placed in the hands of anyone but the client, client shall make such party aware of all the assumptions and limiting conditions of the assignment. (4) The use of this report is subject to the requirements of the National Association of Independent Fee Appraisers, as relating to review by their individual duly authorized representatives. Further, the disclosure of the contents of this report is governed by the By-Laws and Regulations of the National Association of Independent Fee Appraisers. (5) This report shall be used in whole and not in part. The loss or removal of any portion of the report invalidates the entire report. (6) The appraiser and/or firm, by reason of this report, shall not be required to give testimony or be in attendance in any court, administrative hearing or any conferences pertaining to such, unless proper notice, arrangements and compensation terms are made in advance. (7) The appraiser and/or firm by reason of this report, shall have no obligation to revise the conclusions presented herein in order to reflect events and/or conditions occurring subsequent to the date of valuation. (8) The appraiser and/or firm reserves the right to review, and revise if necessary, his judgments and conclusions on the basis of information withheld or not discovered in the normal course of diligent investigation. (9) The appraiser and/or firm has no responsibility for matters of a legal nature, questions of survey, opinions as to title, soil or sub-soil conditions, engineering or other technical matters. (10) The property is assumed to be free and clear of all liens, encumbrances and defects of title, except those specifically cited within this appraisal report. (11) Marketable title, competent management, responsible ownership and compliance with all governmental regulations and controls are assumed, unless specifically cited otherwise within this appraisal report. (12) The appraiser and/or firm assumes that all required licenses and/or permits, consents or other legislative or administrative authority from any local, state or national government or private entity or organization have been or can be obtained or renewed for any use on which the value estimate(s) contained within this report are based. This also assumes a timely manner without unusual cost. Unless otherwise specifically cited in this appraisal report. 11 . . STATEMENT OF LIMITING CONDITIONS (13) The appraiser and or firm assumes that there are no hidden or unapparent conditions of the property, sub- soil or structures which would render it more or less valuable than otherwise competitive/comparable property. The appraiser and or firm also assumes no responsibility for such conditions or engineering studies which might be required to discover such conditions. (14) Any sketches, maps or other exhibits prepared by the appraisers and illustrated within this report are included solely to aid the reader in visualizing the property and/or its location,and should not be construed as surveys or engineering drawings. (15) Each value estimate, finding, prediction, assumption or conclusion contained within this report is that of the appraiser's and is not to be considered as an assurance that an event will or will not occur. The value estimate is based upon appropriate research and applicable appraisal techniques; in that, by its nature, the appraisal of real estate is not an exact science, the end result is an opinion with which others may differ; the final estimate of value is not guaranteed and no warranty is implied or intended. (16) The current (effective date of appraisal) purchasing power of the U.S. dollar is the basis for the value estimate; no extreme fluctuations in economic cycles are anticipated. (17) Any allocation of value to the land and/or improvements contained within this report are based on the current program of utilization and are constituent parts of the total value reported. Neither allocation may be used in making a summation report by combining component values created by others. Either will be invalidated if so used. (18) If the property rights appraised herein relates to an estate that is less than the whole fee simple estate and is a fractional interest only, the value of the fractional interest plus the value of all other fractional interests mayor may not equal the value of the whole fee simple estate. (19) No consideration has been given to any furniture, trade fixtures, special equipment, personal property, the present worth of any business or enterprise and/or inventories that may be located on the subject property which are not normally considered part of the real estate. Any discussion of those items is for reference purposes only, and the appraiser and/or firm accepts no responsibility for the valuation of those items. (20) It is assumed that no ruins, artifacts or items of historical or archaeological significance have been discovered or exist on the subject property. (21) The Americans with Disabilities Act (ADA) became effective January 26, 1992. The appraiser has not made a specific compliance survey and analysis of the subject property to determine whether or not it is in conformity with the various detailed requirements of the ADA. It is possible that a compliance survey of the property together with a detailed analysis of the requirements of the ADA could reveal that the property is not in compliance with one or more of the requirements of this act. If so, this fact could have a negative effect upon the value of the property. Since the appraiser and/or firm has no direct evidence relating to this issue, they did not consider possible noncompliance with the requirements of ADA in estimating the value of the property. iii . . STATEMENT OF LIMITING CONDITIONS (22) Unless otherwise stated in this report, the existence of potentially hazardous substances, including without limitation asbestos, polychlorinated biphenyl, petroleum leakage, or agricultural chemicals, which mayor may not be present on the property, or other environmental conditions, were not called to the attention, nor did the appraiser and/or firm become aware of such conditions during their inspection. The appraiser and/or firm has no knowledge of the existence of such materials on or in the property unless otherwise stated. The appraiser and/or firm, however, is not qualified to test such substances, such as asbestos, urea formaldehyde foam insulation, or other hazardous substances or environmental conditions, which may affect the value of the property. The value estimated is predicated on the assumption that there is no such condition on or in the property or in such proximity thereto that it would cause a loss in value. No responsibility is assumed for any such conditions, nor for any expertise or engineering knowledge required to discover them. (23) It is assumed that no waste dumping of disposal activities have occurred upon the subject property; that there are no underground storage tanks situated on the subject property; and no activities have occurred or conditions been maintained on adjacent lands which have resulted in the contamination of the surface water, ground water or soils at the subject property, unless otherwise stated in the report. Unless otherwise stated in the report. (24) If required, any environmental impact statement prepared for the subject property is assumed favorable and will receive approval from the appropriate regulatory bodies. (25) To the best of the appraiser's and/or firms knowledge and belief, the information furnished to the appraiser or firm, and the statements of fact contained in this appraisal report, and upon which the analyses, opinions, and conclusions are expressed herein are based, are true and correct, subject to a reasonable effort having been made to verify such information. (26) It is assumed by the appraisers, the proposed construction (if any) will be completed in a good workman like manner, in compliance with all applicable building codes and government regulations, and in a timely fashion. (27) Acceptance of and/or use of this appraisal report constitutes acceptance of the foregoing assumptions and limiting conditions along with any other assumptions and/or conditions cited within the body of the report. (28) It is assumed by the appraisers that the property, if improved is served by an adequate and potable water source and that any waste disposal systems such as septic systems are permitted and functioning properly. (29) This is a summary appraisal report which is intended to comply with the reporting requirements set forth under Standards Rule 2-2(b) of the Uniform Standards of Professional Appraisal Practice (USPAP). As such, this report presents only compendious discussions of the data, reasoning, and analysis that were used in the appraisal process to develop the appraiser's opinion of value. Supporting documentation concerning the data, reasoning and analysis is retained in the appraisers' work files. The depth of discussion contained within this report is specific to the needs of the client and the intended use of the document. The appraisers are not responsible for unauthorized use of this report. iv Agrarian Associates File No. A201008B UNITED STATES DEPARTMENT OF AGRICULTU FARMERS HOME ADMINISTRATION APPRAISAL REPORT - FARM TRACT State Pennsylvania County Cumberland Owner/ApplicantDonald D. Lehman Estate *Legal Description and Number of Acres 61.14 Acre Vacant Land Tract, West Pennsboro Township Deed: 33G-I035 Parcel: 46-18-1404-012 *Purpose and Intended Use of Appraisal Estimate Fair Market Value For Estate Planninq Purposes *Rights Appraised ~ Fee Simple D Leasehold *Highest and Best Use of Property Aqricultural/Residential * Extent of Process See Attachments D Other A. LOCATION NAME OF NEAREST TOWN Carlisle DIRECTION FROM TOWN. . . . . . . . . . . . . MILES FROM TOWN . . . . . . . . . . . . . . . . MILES FROM NEAREST SCHOOL MILES FROM NEAREST CHURCH Northwest @7 <5 N/A B. ROADS AND COMMUNITY CONDITION OF ROADS D E ~ G D F D P KIND OF FARM ROAD Dirt MILES TO NEAREST PUBLIC GRAVEL OR H-S ROAD 0 RIGHT OF WAY TO FARM ~YES D NO FARM DIST. CONDITION D E ~ G D F D P TYPE OF FARMING IN COMMUNITY Dairy, Poultry, Genera C. FARM SERVICES ~ R.F.D. ~ PHONE ~ POWER LINE MILES FROM ELEV. ~ GIN ~ MILK ROUTE MKTG. FACIL. ~ D. COMMUNITY FACTORS FARM COMPARED WITH AVERAGE IN COMMUNITY AVERAGE BETTER POORER ~ D D ~ D D ~ D D ~ D D LOCA TION DESIRABILITY SALABILITY RENT ABILITY E. CONDITION OF LAND GENERAL FERTILITY iii E D G D F D P NOXIOUS None % WEEDS: Controlled % LAND NEEDS: DRAIN ~ AC LEVEL 0 AC CONTOUR 0 AC OTHER(SPECIFY) AC IRRIGATED * No AC NAME OF IRRIGATION DISTRICT Land Value/Acre: 4700 Buildinq Value/Acre: 0 Percent Tillable: 100% Productivity Index: .98 * Attachments as needed F. NATURAL RESOURCES. D MINERALS * D TIMBER D OTHER (SPECIFY) D OIL OR GAS D GRAVEL G. WATER · PASTURE AN CROPLAND SOURCE ......... . WELL DEPTH ....... NO NO YES NO CONVENIENT . . . . . . . D D D D ADEQUA TE . . . . . . . . D D D D DEPENDABLE...... . D D D D QUALITY ACCEPT ABLE D D D D H. HAZARDS, DETRIMENTS AND LIMITING CONDITIONS. D IDENTIFIED HISTDRICAL/ARCHAEOLOGICAL SITES D WETLAND * ACRES D UNDERGROUND STORAGE TANKS D CONSERVATION EASEMENT 0 ACRES D HAZARDOUS WASTES D MUDSLlDE AREA D HIGHLY ERODIBLE LAND See FSA ACRES D FLOOD PLAIN 0 ACRES D DTHERISPECIFYI COMMENTS Farm not listed as havinq hydric soils I. OWNERSHIP HISTORY DATE BOUGHT 1988 CHANGES: None ACRES 61.14 DATE PRICE $ 73946 COSTS $ COMMENTS J. TYPICAL RENTAL TERMS ANNUAL RENT $ SHARE CASH $ 40-80/Acre % PROD. QTY. K. TAXES ASSESSED VALUE $28610 C&G REAL EST. TAXES 192001 ASSES. RATE 100% $28610 MIL LEVY 11. 207 SPEC. IMPROVE. DIST. TAXES * $ 321 C&G FmHA 1922-' (Rev. 6-931 MCS. a Division of ACI Development IBOOI 697-7783 Page 1 of 4 MCS Form FTB Agrarian Associates : YEAR CONTRIBUTORY KIND OF BUILDING BUILT STRUC- OF FOUN- OR AREA STOR- OF MENT REMAIN VALUE VALUE II TION 111 121 131 A. DWELLINGS lis. None II C D. I E F. '. G. H. ROOF DA- OF GROUND IES BUILD- COST ING (Insurance TION FLOOR ING Iyrs or %) Coverage) (4) 151 161 171 IB) 19) 1101 1111 1121 $ $ $ II. . J. K. L. TOT ALS IADD AN ATTACHMENT IF ADDITIONAL SPACE IS NEEDED TO DESCRIBE BUILDINGS) I BUILDING CONTRIBUTORY VALUE PER ACRE $ 0 I I SALE PRICE . ADJUSTMENT FACTORS ADJUSTED VALUE DATE IDENTIFICATION TOTAL OF PER LOCA- BUILD- PER OF PROPERTY ACREAGE TOTAL LAND TIME OTHER TOT AL SALE ACRE TION INGS ACRE 11) (2) 131 (4) (5) 16) (7) IBI 19) 1101 Ill) 1121 6/01 A. Shuman 67.93 $ 375000 $ 5520 $ -500 $ +150 $ = $ = $ = $ 5170 $ 316094 1/00 I 3/01 12/99 B. Nol t 63.54 300000 4721 = +100 -1361 +168 +672 4300 262902 C. Nolt 32.99 139490 4228 +250 = = 4478 273785 o ZiImnerm 60.40 225000 3725 +200 +186 +744 4855 296835 E. . INDICATE 1+) OR (-) ADJUSTMENT IN DOLLAR AMOUNTS INDICATE (01 OR 1= IIF NO SIGNIFICANT DIFFERENCE MARKET VALUE $ 4700 $ 287358 I SEEATTACHMENTISI1922-9 I FOR SUPPORTING DATA, DOCUMENTATION, AND COMMENTS COMMENTS ON ADEQUACY AND APPROPRIATENESS OF BUILDINGS TAKING INTO CONSIDERATION PLANS FOR BUILDING CONSTRUCTION OR REPAIR INCLUDING COST IESTIMATEDI The sub;ect property is vacant land. COMMENT ON CONDITION OF LAND TAKING INTO CONSIDERATION PLANS FOR LAND IMPROVEMENTS INCLUDING COST IESTIMATEDI I The sub;ect is a 61.14 acre vacant land tract. The land is all tillable (100%) and consists of l~estone based soils. Soil Productivity is excellent and est~ted at .98 compared to the best county soils. Tillable soils are almost all Haqerstown Series with some areas of Huntinqton I Series. Farm is located in the Aqricultural District of West Pennsboro Township. Min~um lot size is 2 acres for residential use. Farm enrolled in Clean and Green. FmHA 1922-1 IRev. 6-931 MCS. a Division of ACI Development 18001 697-7783 Page 2 of 4 MCS Form FTB Agrarian Associates YIELD TOT AL PRODUCTION LANDLORD'S RETURN CROPS ACRES PER CASH AND/OR RENTAL SHARE AMOUNT PRICE GROSS ACRE PER UNIT VALUE RATE OR % VALUE (1 ) (2) (3) (4) (5) (6) (7a) (7b) Corn 61.14 133 8132 2.65 $ 21550 100 $ 21550 II FARMSTEAD, DWELLING RENTAL I CASH RENT , WOODLAND I I WASTELAND, ROADS, ET TOTALS $ PERMANENT PASTURE (8) DEDUCTIONS REAL EST A TE TAXES AND ASSESSMENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ INSURANCE COSTS ON BUILDINGS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . MAINTENANCE COSTS BUILDINGS, FENCES, WATER SUPPLY, TILE 0.................0.. 0 OPERATING AND MAINTENANCE COSTS FOR IRRIGATION AND DRAINAGE. . . . . . . . . . . . . . . . ANNUAL PAYMENTS ON BONDED DEBTS. . 0 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OTHER DEDUCTIONS (SEEDS, CROP INSURANCE, WATER CHARGES, FERTILIZER, LIME SPRAY. . MATERIAL, HAULING, HARVESTING, GINNING, AND MARKETING EXPENSES) Corn Expenses 157/Acre TOTAL DEDUCTIONS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 . . . . . . . . . . . . . . . 0 . . . . . 9920 (9) NET FARM INCOME ......... 0 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 . . . . . . . . . . . 11630 (10) CAPIT ALlZA TION RATE 4.00 % (11) CAPITALIZATION VALUE PER ACRE $!755 290,750 (12 CAPITALIZATION RATE SELECTION COMPARABLE RATE COMMENTS A 2.60 % Inferior Soils All Till B 5.00 % Sli htl Inferior Soils All Till A Easement C 2.70 % Inferior Soils All Till D 3.90 % Inferior Soils All Till A Easement E % FmHA 1922-' (Rev. 6-931 MCSo a Division of ACI Development 18001 697-7783 Page 3 of 4 MCS Form FTB Agrarian Associates I CROPLAND 2 61.14 SOIL DESCRIPTION 3 DEPTH OF TOPSOIL 4 8-10' , 10-12' , 6-8' , 0-8% 0-10" KIND OF SUBSOIL (5 SiltLoam SiltLoam SiltLoam SiltLoam SiltLoam TOPOGRAPHY VALUE PER ACRE (7) $ 4700 $ TOTAL 8 287358 USE OF LAND ACRES TOTAL CROPLAND . PERM. PASTURE 61.14 WOODLAND FARMSTEAD ROADS ETC. TOTALS 61.14 MARKET VALUE OF LAND 358 I CONTRIBUTORY VALUE OF BUILDINGS AS IMPROVED (OBTAIN TOTAL FROM PART 2. COLUMN 12). . . . . . . . . . . . . . . . . . SUMMATION VALUE OF FARM. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. (PER ACRE $ 4700 ) II VALUE DEFINITION - MOST PROBABLE PRICE IN TERMS OF MONEY WHICH A PROPERTY SHOULD BRING IN A COMPETITIVE AND OPEN MARKET UNDER ALL CONDITIONS REQUISITE TO A FAIR SALE, THE BUYER AND SELLER, EACH ACTING PRUDENTLY, KNOWLEDGEABLY, AND ASSUMING THE PRICE IS NOT AFFECTED BY UNDUE STIMULUS. II VALUE INDICATION - MARKET DATA (SALES COMPARISON) APPROACH ............. $ VALUE INDICATION - CAPIT AUZA TION (INCOME) APPROACH ..................... $ VALUE INDICATION - SUMMATION (COST) APPROACH ... . . . . . . . . . . . . . . . . . . . . . .. $ MINERAL CONTRIBUTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $ 287,358 290,750 287,358 o II RECOMMENDED MARKET VALUE (LAND AND MINERALS) ($ 4743 PER ACRE) I $290,000 NOTE: The Recommended market Value includes the mineral contribution from Form FmHA 1922-11, if any. SEE ATTACHMENTS Addenda FOR SUPPORTING DATA, DOCUMENTATION AND COMMENTS II II I CERTIFY THAT, TO THE BEST OF MY KNOWLEDGE AND BELIEF: - THE STATEMENTS OF FACT CONTAINED IN THIS REPORT ARE TRUE AND CORRECT. _ THE REPORTED ANALYSES, OPINIONS, AND CONCLUSIONS ARE LIMITED ONLY BY THE REPORTED ASSUMPTIONS AND LIMITING CONDITIONS, AND ARE MY PERSONAL, UNBIASED PROFESSIONAL ANALYSES, OPINIONS, AND CONCLUSIONS. _ I HAVE NO (OR THE SPECIFIED) PRESENT OR PROSPECTIVE INTEREST IN THE PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AND I HAVE NO (OR THE SPECIFIED) PERSONAL INTEREST OR BIAS WITH RESPECT TO THE PARTIES INVOLVED. _ MY COMPENSATION IS NOT CONTINGENT ON AN ACTION OR EVENT RESULTING FROM THE ANALYSES, OPINIONS, OR CONCLUSIONS IN, OR THE USE OF, THIS REPORT. _ I ~ HAVE, D HAVE NOT, MADE A PERSONAL INSPECTION OF THE PROPERTY THAT IS THE SUBJECT OF THIS REPORT. (MARK APPROPRIATE ITEM). _ NO ONE PROVIDED SIGNIFICANT PROFESSIONAL ASSISTANCE TO THE PERSON SIGNING THIS REPORT. (IF THERE ARE EXCEPTIONS, THE NAME OF EACH INDIVIDUAL PROVIDING SIGNIFICANT PROFESSIONAL ASSISTANCE MUST BE STATED.) II II II I I CONTINGENT AND LIMITING CONDITIONS STATEMENT: THE APPRAISER IS NOT QUALIFIED TO VERIFY OR DETECT THE PRESENCE OF HAZARDOUS SUBSTANCES BY VISUAL INSPECTION OR OTHERWISE, NOR QUALIFIED TO DETERMINE THE EFFECT, IF ANY, OF KNOWN OR UNKNOWN S T. UNLESS OTHERWISE STATED ON THIS FORM OR AN ATTACHMENT HERETO, THE FINAL VALUE CONCLUSION IS ROPERTY BEING FR F HAZARDOUS WASTE CONTAMINATIONS, AND IT IS SPECIFICALLY ASSUMED THAT PRESENT SUBS DILlGENC NSURE THAT THE PROPERTY DOES NOT BECOME OTHERWISE CONTAMINATED. (SIGNED) DATE OF INSPECTION 1/2/02 EFFECTIVE DATE 6/19/01 (TITLE) Appraiser THIS APPRAISAL CONTAINS ATTACHMENTSAddenda REVIEWED BY DATE =mHA 1922-1 IRev. 6-931 MCS, a Division of ACI Development (800) 697-7783 Page 4 of 4 MCS Form FTB II Owner Most Recent Lelnnan II Prev~ous PrevIous Previous Current Contract D Option D Listing Price II Buyer Contract Price Seller Closing Date Analysis / Comments: Farm has not been sold or transferred within currently listed for sale or under contract. II 33~~T6~'S9 Reference 19Siate Price P~ig946 kn Terms of Sale un own $ $ $ $ $ $ the past three years. Farm is not II II II II II Environmental Problems Observed or Known To Appraiser. . . 0 0 0 . . 0 0 0 . . . 0 0 0 0 0 0 . 0 . 0 0 . 0 0 . . 0 0 0 0 . 0 YES D NO D Analysis / Comments: Appraiser is not qualified to detect or evaluate environmental problems. II II II II II II II Corm NOS MCSo a Division of ACI Development 18001 897-7783 Page . . Page 1 1. PURPOSE OF APPRAISAL AND DEFINITION OF VALUE: The purpose of this appraisal is to estimate the Fair Market Value for the subject property. Market value, as taken from the Dictionary of Real Estate Appraisal (AIREA) and used by the Office of the Comptroller of the Currency, is defined as the most probable price in terms of money that the property will bring in a competitive and open market under all conditions requisite to a fair sale, buyer and seller each acting prudently, knowledgeably, and assuming the price is not affected by undue stimuli. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: a. buyer and seller are typically motivated; b. both parties are well informed, are well advised, and each acting in what they consider their own best interest; c. a reasonable time is allowed for exposure on the open market; d. payment is made in cash or its equivalent; e. financing, if any, is on terms generally available in the community at a specified date and typical of the property type in its locale; f. the price represents a normal consideration for the property sold, unaffected by special financing amounts and! or terms, services, fees, costs, or credits accrued in the transaction. 2. SCOPE OF THE APPRAISAL The Client has requested that the appraisers develop and prepare a "Limited - Summary Appraisal Report" that is in compliance with the requirements of the Uniform Standards of Professional Appraisal Practice (USPAP). This appraisal has been prepared in a narrative format in conformance with the applicable standards. The values contained within this appraisal are subiect to the Assumptions. Limiting Conditions and Certificate. as previously cited. A "Limited Appraisal Report" is defined within the Uniform Standards of Professional Appraisal Practice (USPAP) as presented below: . . Page 2 "The act or process of estimating value or an estimate of value performed under and resulting from invoking the Departure Provision. " This appraisal report is the result of a limited appraisal process in that certain allowable departures from the specific guidelines of the Uniform Standards of Professional Appraisal Practice (USP AP) were invoked. The intended user of this report is alerted that the reliability of the value conclusions provided herein, may be impacted to the degree there is departure from specific guidelines of the Uniform Standards of Professional Appraisal Practice (USPAP). Whereas, a "Summary Appraisal Report" is defined within the Uniform Standards of Professional Appraisal Practice as presented below: "A written report prepared under Standards Rule 2-2 (b) of a Complete or Limited Appraisal performed under Standard 1." Comment: The full extent of the process may not be apparent to the reader in the contents of the report. A Summary Appraisal Report, presents only compendious discussions of the data, reasoning, and analysis that were used in the appraisal process to develop the appraiser's opinion of value. Supporting documentation concerning the data, reasoning and analysis is retained in the appraiser's work file. The depth of discussion contained within this report is specific to the needs of the client and the intended use of the document. The appraisers are not responsible for unauthorized use of this report. 3. PROPERTY RIGHTS APPRAISED The scope of this valuation assignment requires that the appraiser consider the "Fee Simple Estate" in the subject property. A "Fee Simple Estate" is defined in the Dictionary of Real Estate Appraisal, third edition, published by the Appraisal Institute, as follows: "Absolute ownership unencumbered by an other interest or estate, subject only to the limitations imposed by the government powers of taxation, eminent domain, police power, and escheat. " The "Fee Simple Estate" is also subject to normal right-of-ways granted to governmental agencies and public utility companies for the placement and maintenance of utility distribution and drainage systems as well as other easements of record. . . Page 3 4. IDENTIFICATION OF SUBJECT PROPERTY: The subject property is located in West Pennsboro Township, Cumberland County. The property is identified by deed reference 33G-1035 and tax parcel 46-18-1404-012. The property contains 61.14 acres without improvements. 5. TAXES: The subject has a current fair market assessed value of $256,210 and a Clean and Green value of $28,610. The farm is enrolled in Clean and Green. The current annual taxes are $321 based on a current millage rate of 11.207 mills for West Pennsboro Township. The owner is saving approximately $2,500 annually in the Clean and Green Program. 6. ZONING: The subject property is located in the Agricultural District of West Pennsboro Township, Cumberland County. The purpose ofthis zoning district is to preserve and maintain the township's valuable farmland by allowing less intensive development to occur within the designated zoning district's boundary lines. Permitted uses within the district include: Agriculture, horticulture, and forestry uses Farm units and accessory farm related structures Single family detached dwellings Farmer's markets and produce stands Churches and similar places of worship Cemeteries Public or semi private recreation areas, when operated not for profit Municipal buildings Necessary municipal and public utility structures Golf Courses and country clubs Grange halls and buildings for agriculturally oriented groups Accessory uses to the above uses Other uses are permitted as a conditional use. The minimum lot area for single family dwellings is two acres. The minimum lot area for animal agricultural operations is based on the number of animals. . . Page 4 Please refer to a copy of the ordinance in Appendix C. 7. ANALYSIS AND CONCLUSIONS: HIGHEST AND BEST USE A critical point of any valuation analysis is the determination of highest and best use of the property being appraised. Highest and Best Use is defined in the Dictionary of Real Estate Appraisal, third edition, published by the Appraisal Institute, as follows: "The reasonably probable and legal use of vacant land or an improved property, which is physically possible, appropriately supported, financially feasible, and that results in the highest value. The four criteria the highest and best use must meet and legal permissibility, physical possibility, financial feasibility, and maximum profitability. " In determining the highest and best use of a property, an appraiser takes into account and analyzes the following criteria: Legally Permissible - In all cases, an appraiser must determine what uses are legally permissible. Private restrictions, zoning, building codes, historic district controls and environmental regulations must be investigated because they may preclude many potential highest and best uses. Physically Possible - Physical characteristics of the site and improvements may affect the uses to which a property can be utilized. The utility of a parcel may depend on the site's frontage and depth and the improvements layout, design and utility. Financially Feasible - In determining which uses are physically possible and legally permissible, an appraiser eliminates some uses from consideration. Then, the uses that meet the first two criteria are analyzed further to determine which are likely to produce an income, or return, equal to or greater than the amount needed to satisfy operation expenses, financial obligations, and capital amortization. All uses that are expected to produce a positive return are financially feasible. Page 5 . . Maximally Productive - Of the financially feasible uses, the use that produces the highest price, or value, consistent with the rate of return warranted by the market for that use is the highest and best use. To determine the highest and best use of the property, the same rate of return is often used to capitalize income streams from different uses into their respective values. This procedure is appropriate if all competing uses have similar risk characteristics. The use that produces the highest value is the highest and best use. Highest and Best Use is analyzed in two parts. First, the property is considered to be vacant and available for development as of the valuation date. Then, the highest and best use of the property as improved and/or proposed to be improved is considered. It is to be recognized that in cases where a site has existing improvements on it, the highest and best use may very well be determined to be different from the existing use. The existing use will continue, however, unless and until land value in its highest and best use exceeds the total value of the property in its existing use. An interim use is an existing and relatively temporary use where the transition to highest and best use is deferred. A building or other improvement may have many years of remaining life yet may not enhance the value of the land that has a higher use, except as an interim-use improvement while the land is in transition. Highest and Best Use as Applies to Subject: After considering all the factors that would affect highest and best use including location, zoning, physical characteristics of the site and existing improvements, a determination has been made that the highest and best use of the subject property both as improved and vacant is a combination of agricultural and residential uses. The subject is located in the Agricultural District of West Pennsboro Township. The legal restriction permits the current use of the property as a crop farm as well as many alternate uses.. The most common alternate land use in the area is residential uses. The zoning does not strictly limit the conversion of farm land to non-ag uses. The only limitation is the large minimum lot size of two acres. The farm has physical characteristics which permit the potential subdivision of the property. The farm has excellent public road frontage. The property has frontage along two public roads. Single family dwelling lots in the area are generally subdivided from existing public road frontage due to the large lot size required. This frontage appears to be good quality with excellent soils and adequate sight lines. Much of the frontage should be suitable for residential lots. The lots would need to be a minimum of 2 acres due to the current zoning. The subject farm does not have agricultural improvements which influence the highest and best use of the property. The farm is a tract of vacant land The farm has excellent soils and a moderate to high percent tillable land. The farm land is valuable for continued agricultural use. The farm is also located in a strong agricultural area where premium prices are paid for land which remains in farming. Page 6 . . Land which is not developed would be desirable for continued agricultural use. Based on the above discussion, the highest and best use of the subject property is the subdivision of residential lots along the public road frontage in areas suitable for construction and continued agricultural use on the remaining land. 8. MARKET DATA APPROACH: Four comparable sales were used in this appraisal report. All four sales were in the subject market area. The adjusted values per acre ranged from $4,300 to $5,170. A value of $4,700 per acre was chosen for the subject property. 9. CAPITALIZATION APPROACH: The capitalization rate was estimated by developing a typical income and expense statement for various farming operations in the area. The Penn State Farm Management Handbook was used to determine the typical crop income and expense figures. Market data was used for the rental information. The capitalization rates for the comparables ranged from 2.60% to 5.00%. A rate of 4.00% was selected for the subject. 10. SUMMATION APPROACH: The soil information was obtained from the soil survey. Vacant land sales and farm sales with minimal building value were considered in determining the land value. The Marshall and Swift Valuation Program was used to calculate the replacement and depreciated replacement cost of the improvements of the improved comparable sales. Since the subject is vacant land the Cost Approach was not applicable. 11. MARKETING TIME: The subject is a vacant land tract with excellent soils and public road frontage. The farm is all tillable and desirable for continued agricultural use. The land is also desirable for low density residential development. The subject is located in a changing community where residential and part-time farming operations are encroaching on the once predominantly active farming community Estimated marketing time is 6-12 months. Marketing time is estimated by speaking with brokers, auctioneers and parties involved with the comparable sales. 12. RECONCILIATION OF MARKET VALUE: The reconciliation of value was based upon the assumption that the Market Approach was the best indication of value because it took into account the actions of buyers and sellers in the market place. The Summation Approach was not applicable due to the fact the subject is vacant land. The Marshall and Swift program was used to develop improved comparable sales. The Market Approach uses sales of competitive properties on the subject marketplace. When similar sales exist, this approach to value is most accurate since it involves the motivations of typical buyers and sellers. The Market and Summation approaches can be interrelated and similar in most cases due to the high percentage of value placed on the land of farm properties. page? .. The Income roach uses typical income and expen~gures and capitalizes the net income to arrive at an indication of value. The final decision of value on this property is based on the Market Approach, supported by the Income Approach. "Market Value As Is" June 19, 2001 $290,000 . . \ \ " -'. ~...;-.:; -:.;;,--' '1.'.11-D.e4G.-....... 'r..........I_......_~.~..........1 ............. "-' .Iftd.... ,. L. ~ ~ .'S"---.J r,lCCr.v(i>- JFFI.CE OF TilE l\ECCi:Jrn 01' DEEDS. ""'I'~'..~:.l 1 C~U~!Ty..r". ~ 'f' . . l '88 APR ,4 PI1 Z ~S Wiji.a lInbtnturtf . " , MAIJf: Tm: 12th Jay 0/ u/ uur Lord UII' Ihou,Glld lIill. hUlldftd eighty-eight (1988) April ill Ih. 1tfU' BETWEEN FARMERS TRUST COMPANY. TRUSTEE of the JOSEPHINE S. LEHMAN '" !, TRUST, of Cumberland County, Pennsylvania, hereinafter called the Grantor AND DONALD D. LEHMAN, a single individual of West Pennsboro Township, Cumberland County, Pennsylvania,' hereinafter called the Grantee \._-- . WllBHI::AS, Title to the premises hereinafter described were vested in Josephine S. Lehman, during her lifetime. WHEREAS, Josephine S. Lehman died October 18, 1978 and Letters Testamentary were granted to Donald D. Lehman, File No. 21-79-03, Will Book 79. Page 967, who conveyed the real estate to the Josephine S. Lehman Trust in accordance with her Will provisions. / I I fl ... ~ \0"" "'".l.... ......, .. ~~"."'..I.".. Cumb. Co.. P.. 13.... 9 Sf. r : ".f School Oist. Cumbo Co.. p, --1.S a..1 l.h'. T,....f., T.. , 1.1 -/ y -1r; t;J.~t 7J ,.~. }~.......... IVti Ba.JN..c;,:'~ It- ,t/u- c.-/ ~ c.. Dlot. c:.L,.. .4 .........s 1..1 Ed... T,....f., T.. ,.t~ ~:!."!:}.~ A..;;3..~!.:. ~ ~~,-\ ,A-.""'.... _L c.. D.... CeL,... As ~,' aOOK ~-33 r~:t1035 '" 1-, !;j I." r' . . NOW THIS INDENTURE WITNESSETH, ,h.',h, HltI Grantor fo, ""tI In con,ltI,ra,lon of'h, "'''' of Seventy-Three Thousand Nine Hundred FortY-Six and 110/100 ($73,9116. ~O )-------------------DoUa" lalllful "'on'1 of'h, Unllrtl S,a,,,, '0 Grantor In hantl paltI 6",,, ,.1tI Grantee a' ""tI 6.fo" Ih. ltalin, anti tI.a''''1 h."of, ,h. ,ratllrll, ba"aillrJ, "Clip' wh'''~f II h".6, acbo..t."'.tI has ,OItI, all.a.tI, "I,..u anti confirm.<I. aatl 6,'h". p'''.II'', do .ran', bar...... ..0. all,n, ,,1..., ...tI confi,,,, ""'0 ,h. ,alrl ALL those certain three tracts of land situate in West Pennsboro Township, Cumberland County, Pennsylvania, bounded and described as rollows: TRACT NO.1: BEgINNING at a railroad spike at the intersection of the center line of the Newville Road (PA. Route 6111) and the c~nter line of Kerr Road (a/k/a Township Road 14112); thence along the center line of the Newville Road, North 85 degrees 29 minutes 30 seconds East 290.46 feet to a point; thence still along said center line, North 85 degrees 05 minutes East 1173.97 feet to a pointj thence still along said center line, North 811 degrees 311 minutes 27 seconds East 31.77 feet to a point in the line of lands now or formerly of Brenard Paulus; thence along the line dividing said lands now or formerly of Paulus and the tract herein conveyed,.through an iron pin which is a distance of 26.95 feet from the center line o~ the Newville Road, South 5 degrees 25 minutes 33 seconds East 395.55 feet to an iron pin; thence along said lands now or formerly or Paul~s, North 84 degrees 34 minutes 27 seconds East 361. 32 feet to. an iron pin j thence along lands now or formerly of Donald Lehman, South 8 degrees 31 minutes 44 seconds East 771.54 feet to a fence post; thence still along said lands now or formerly of Lehman, South 85 degrees 33 minutes 29 seconds West 616.46 feet to a fence post;' thence South 86 degrees 17 minutes 30 seconds West 1179.71 feet to a railroad spike in the center line of Kerr Road aforesaid; thence along the center line of Kerr Road, North 10 degrees 33 minutes 2 seconds West 150.0 feet to a railroad spike; thence still along said center line of Kerr Road, North 10 degrees 35 minutes 31 seconds West 495.83 feet to a railroad spike; thence still along said center line, North 10 degrees 31 minutes 13 seconds West 332.68 feet to a railroad spike; thence still along said center line, North 10 degrees 34 minutes 7 seconds West 175.99 feet to a railroad spike, the Place of BEGINNING. CONTAINING 26.114 acres, according to a survey of Gerrit J. Betz, R.S., dated September 27, 1972 from which survey the above description was taken. CONTINUED TOGETHER w,h all alltl ,Ia,.."" tracts of land IN,.,. tI1Gt~TJ, UlGler-courle,. riflat', liberll", p,i"ile,e" heretlilamellt' anti appUrlellGIICt' ",hallOeftr tlar"unr. brlon,in,. 0' in GtI""ue appertain."" anti ,he relle,,;oll' Gntl rem.inde", ren", Wilt. Gild profit. tltrrro/: orad GUO, aU the e,tale, ri,lat, title, inter,,', Il,t, IruI', property. pOlle,,;oll, claim Gl1d Jtmof"lIl1AG"orW'" ill lalli, tqui',. or od.tf1l1iu laou"Otllt" oj'. ill, 10 or QuI ollbl' laml',' TO HAYE AND TOPOLD. ,h"alrl . tracts of land h".I'a""a', ...tI ,,,,,,11,, 1t".6, ,roll,.rI .IItI ,,1,..,<1. 0' ""a,loa.tI .ntl IIII.ntlu 10 '0 b" IIIl,h lit. 0"""'110"'''. ""'0 ,It, Hid. Grantee, his heirs alltl"'igal. '0 ...tlfo, ,h, ollly p,o,,, "It .IItI 6,ltoof oflh, ,altl Grantee BOOK G'r-33 J>l.C=1036 (:) ,~ ";) L' "-. "--.' . . .., TRACT .W. ?: BE,.lIHJlI;c; at a point. in 1.:1<' cent~r of t:Je pUhlic r,)ad that ie-l1dS--rroiil the l.:arl1s1e to Nell'v1l1e Road to MI.. Roc}:; thence by the center ~f the sald public road, South 11 derrees 30 minutes East. a distance of &41.5 feet to a point; thence alonG lands now or formerly of E. Goodyenr and Mrs. Will!am Lehman. South 84 deg~ees W~st. a distanr.e of 9~o fe<'\. to a post; trHmcc along lands now or forr;,erly "f Elmer Colli ck, Horth 10 dE.'(;ree:; ~Iesl. a distance of 8?1 feet, more or less to a poInt 'at lunds now or formerly of Calvin S. Tritt and Alma M. Tritt, his wife; thence olon[. the lands now or formerly of Calvin S. Tritt and Alm~ M. 'I'ritt; his wife, and lands now or formerly of Will1am H. Ditenhaf..,r, North 8? de~rees 30 minutes East a distance of 9?6.5 feet. more or less. to a point, the Place of BEGINNING. COIlTAIIJI :;G 17.9 acres more or lesf',. ~:1'-1'.f'~_:.: BEGI:;"IJW at a. railroad spike in the center l1ne c.f l:err Road (To~lnship Road K4112), WhlCh splke is South 10 degrees 311 minute:; 07 seconds East 175.99 feet from a ral1road splke at the intersection 01' ti,e Newville Road (Pa. Route 161l1j and the said Kerr Road; thence along the center line of sald Kerr Road, South 10 ~e~rees 31 ~inu~es 13 seconds East 332.68 feet to a ral1road splke In the center 11ne of Kerr Road; thence by the same. South 10 degrees 35 minutes 31 seconds East 495.83 feet to a railroad spike at the center of Kerr Road; thence along land nO\~ o~ formerly of John T. Jackel. South 79 degrees 26 mlnu.tes 58 seconds .ll'st ,19 feet ~o an lron pin; thence alonG the same, Sout.h 10 deGrees 33 minutes 2 seconds East 125.43 feet to an ir~n pin at. the corner of lands T,OW or formerly of Donald Lehman; thence alo:':i; the lands of Donald Lehman, 3c':.Ith 85 deCI',>es 51 minutes 2 seconds West 207.75 feet to a fence post; thence by the same. South 67 degrees ?9 mlnutes 119 seconds West 231.24 fN't to It fl'nc~ post; thence litong lands now or formerly of Diller Lehman. lJr>rth ,'.-., dE'grees 26 minutes I? ....econds West 1.lJ5.51 feet to an iron pin at \,h(' corner of l:1..l1s now or formerly of Clarer,ce L. j':111er; thilnce alone; the 11lnds "f Clarence L-. Hiller and r>th~rs and parallel \~ith the afore- ml'T.t.loneu :Jl'wvill~' Road, j;orth 8, def,l"'''~':; ;:>! r..JrIl;I."$ 53 .seconds E::.:o:t 9113.33 feet to a railroad spike in center l1n~ 0[' KepI' Road, the Place or BEGINNING. C:Oj'!TAlIJl:,:; 17.55 acres. accordi nr; \'0 a survey of Cerra J. Betz, R.S., dalf'd SeptE'mber 27. 1972 from whlch survey the above description was \,..ken. EX Cl'.i"l'1J,l: . HOI'IEVER: ALL ttJat certain tl'~ct of land situate iI, I~<.>:;t I'"nns:,oro TOl1nsilip, Cumberland l:()~nty, J)('nllsy 1 vania, bounded and described as follo~s: BEG1:l:H:I:i at an exlstlnr; railroad trike In the center line of TC'lmshir, Road T-4112 O:c'rr Rond) at the nOI'thC'a!\tern corner ('1' l'I'ojo('rt.~. nO~'1 or formerly of ,lohn T. il1ckelj thence alone; the lntt.';-j'. ~;(.u::. 79 dCGl'ees 2(, mJnutes 58 seconds ,.'est 219 feet. to an exj stine; iron pln j thence along land of Josephine S. Lehman, ilorth 10 dec:rt:( l: 33 r.iinut~es 02 !;E:'conds West 150 feet. to an iron pin; th~ncc' by 1.11(' sam~'. NorttJ 79 der;rees 26 lIlinutC's 58 seconds East ::'1 B. 5Cj f(,C' I. t.o a l'&J lroad splke In the centC'r l.lllCl of TOlmship }.;clad T-411;.> (KEOrr Road); thenc~' LlIClng the lat.ter, ~outh 10 degrees 3', minute.:: 31 seconds East. 150 feet to an eXistin" l'allroad spike, t.JIC J'l..c... of BECIIJiIlIW. CO:~TA!;;J.Ir. 32,642 SQU!U'C' fl'et SC'cord.lnE: \'0 a ::;ul,division Plan d;:l\.l'U J';ilr'cil. 197~ loy t:/ir1 D. !:leN, Fl.S. . br~:~G 1.11... s~::,C th!'~Q tracts Whlch DC".nn!J I). Lehm;lI1. Executor of the istate 01 Josephine S. Lehman cranted and conveyed to Farmers Trust Company rUf)tee. of the Josephine S. Lehlllan Trust by deed dat.ed r.larch /I'" 1988 and recorded 1n t,ile Office of" the Recorder of Deeds for Cumberland County in Deed Book "r' Volume 33 Page caJ~ . roOK (;33 rAcL1037 ,. r:- . . E l-l rcl ~ s:: rcl E ..c OJ H 0.. rcl ~ r-l OM o (I) . ;!.' '" ..' .J t 1 ,." /;... ~-'"'.--_..._._...- - : ~ . " I.:. oj _ .t ! :~ '" ., .. -- .;..,' I ., ::{' 1.. I.;;. '~~ .~ -, -". i . '~.f.. ~ ~_. -~~ ~. :,.. ~ ~: ;'.;~-' oj ~ ... . -I J. I.:i.. ...: t . \ l '\ ...' Io. :;,~;,-~~. '~:' ~h' r s:: \ t". , rtl J , e .il i1t I ':,.:.dt.~,,\~ ,.c:: . 1 ...ll..:". ' Q) ., I ' ',,:,\,,' H f '. ! R i...i'. J . . ...... I I \\ I , 'f,. P- I. i ~\1 1 ft; . \ rtl '.{ . ::E: P \ >< ':\' rtl , .' E-< t J !I sa \ \, -, H -- '. ..~.... .;,. .... \. .. J' .c;. SIt ~ . , ~ . I ~ '" e-. 4' {(I'" ~. ,..,.... ".; '(. ,~. ,f', " .- ; ~:'.~\.~:i~ ~ .:~\ " ,r~~ -;::. ~~'\ \ -- ',,-I. , c<.. ~ c::-. -=-cG : \ \ II J. ':?' :k~~~' ):.:~ , ~. \ ~ - .:t 6L(..... - ~r:S ~,/ " . .J. ',1 i f jI j FIRM FLOOD INSURANCE RATE MAP TOWNSHIP OF WEST PENNSBORO, PENNSYLVANIA CUMBERLAND COUNTY PANELS OF 15 (SEE MAP INDEX FOR PANELS NOT PRINTED) ~ PANEL LOCATION 1\ ; I . I i . 1 . 1 1 I ! ~ I I ; . ~ j , i..., COMMUNITY.PANEL NUMBER 421590 0005 A EFFECTIVE DATE: MARCH 4, 1988 Federal Emergency Management Agency ~1 i ". 11 n . .r; . . ~ .; .. I I I 1 f \' <::::===::===:=::=:::.~:-.:...:...- - . . n }> I ~ I; ~ =fUi II II I i II ? ! :xl o }> o ~ ...... JOINS PANEL 0010 ...... 1 I I I I I I I I I I I , , , , ~ J ) . . ARTICLE 4 AGRICULTURAL DISTRICr'(A) Section 401. INTENT. Consistent with the general purposes of this Zoning Ordinance, the Future Land Use Plan, and the goals and objectives of the West Pennsboro Township Comprehensive Plan, the specific intent of this ARTICLE is to preserve and maintain the Township's valuable farmland by allowing less intensive development to occur within the designated "A" boundary lines. Agricultural land is considered a non-replaceable resource within the Township, which, if lost., is not reclaimable once it is, developed. Agricultural activities are an integral part of the culture and economy of West Pennsboro and are, therefore, deserving of preservation. Provisions within this Article should protect agricultural activities and retain the Township's rural character. -, Section 402. PERMITI'ED USES. In this district no building, farm unit plus accessory structures or land shall be used and no building shall be erected which is arranged, intended to be, or designed to be, used for other than one or more of the following approved uses: A.' Agricultural, horticulture, and forestry uses, including the raising, breeding, and grazing of animals provided that any lot intended to house livestock be a minimum of two (2) acres net lot area with a maximum of two (2) animals per acre. Additionally, any kennel, stable, pen or similar housing or storage of manure may not be located within the front yard setback or less than thirty feet (30') from any side or rear property line. B. Farm units and accessory farm-related structures. ,. C. Single-family detached dwelling units. D. Farmers' markets and produce stands in accordance with ARTICLE 12, Section 1204. E. Churches or similar places of worship, including a parish house, manse, parsonage, or convent. F. Cemeteries. G. Public or semi-private recreation arc:as when not operated to gain or profit. H. Municipal buildings. I. Necessary municipal and public utility structures and buildings in accordance with ARTICLE 12, Section 1206. 4-1 r-'1.:'li;:i'':o1f:<';''jI1j;'.'.tyy:,;",.. \~1'-~,'J1t:-'\~~-~;itt,~~ . . J. Accessory uses on the same lot with, and customarily incidental to, any of the above permitted uses in accordance with ARTICLE 12, Section 1201. K. Grange halls and buildings fot agricultural oriented groups. L Golf courses and country clubs. Section 403. CONDITIONAL USES. Conditional uses in this district may be allowed or denied by the governing body pursuant to public notice and hearing, after recommendations by the Planning Commission, pursuant to the express standards and criteria set forth in ARTICLE 12 in this ordinance, as follows: A. " B. C. Home occupations in accordance with regulations in ARTICLE 12, Section 1205. Agriculturally oriented commercial establishments such as farm implement dealers, feed mills' and similar businesses and support services in accordance with regulations in ARTICLE 12, Section 1213. Nursery, lawn and garden equipment and supplies sales and service in accordance with regulations in ARTICLE 12, Section 1213. D. Commercial Kennels' in accordance with regulations in ARTICLE 12, Section 1211. E. Camps or campgrounds in accordance with regulations in AR1fCLE 12, Section 1210. ' F. G. H. Commercial Riding Stables in accordance with regulations in ARTICLE 12, Section 1212. j , I i 1 Veterinary offices and animal hospitals or clinics and shall be in accordance with ARTICLE 7 - Lot Requirements, ARTICLE 14, Section 1401 and ARTICLE 15. Bed and breakfast establishments in accordance with ARTICLE 12, Section 1202. I. Storage of Materials and Equipment in accordance with ARTICLE 12, Section 1215. J. Public or private schools and related educational facilities. Section 404. BUILDING HEIGHT REGULATIONS. No building shall be erected to a height in excess of fifty (50) feet except for silos. 4-2 . . Section 405. LOT AREA AND WIDrn REGULATIONS. A Minimum Lot Area shall be no less than two 2 acres. B. Minimum Lot Width at the minimum building setback line shall ber no less than two hundred (200) feet. Section 406. LOT COVERAGE REGULATIONS. Principal buildings and accessory buildings or structures including building and impervious surface coverage shall not be more than twenty- five (25%) percent of the total lot. area. To the greatest extent possible, soils of Prime and Statewide significance, as defined and delineated by the USDA Soils Conservation Service, shall not be covered by structures or impervious materials. Section 407. YARD REGULATIONS. Yards of the following minimum depths and widths shall be provided. A Minimum front yard depth shall be sixty (60) feet, as measured from the street right-of-way upon which it abuts. B. \ Minimum side yard width shall be thirty (30) feet. C. Minimum rear yard depth shall be fifty (50) feet from the rear property line. See ARTICLE 12, Section 1207, for other yard regulations. Section 408. OFF-STREET PARKING REGULATIONS. Off-street parking shall b~ provided in accordance with the provisions of ARTICLE 15. Section 409. HIGHWAY (ROADWAY) ACCESS REGULATIONS. Regulations limiting access driveways for permitted uses shall be provided in accordance with provisions of ARTICLE 12, Section 1209. 4-3 IDENTIFICATION OF PROPERTY ACRES (Use Sec., Two., Roe., when annlicablel OR LOTS 67.93 Acre Land Tract. Penn Townshiu 67.93 Amount Stated $ 375.000 II Deed: 247-350 Federal Stamos $ II Parcel: 31-09-0521-006 State Stamos $ TOTAL ACRES OR LOTS CONVEYED 67.93 Assumed Mortaaae $ I, MINERAL RIGHTS 100% $/AC Water Rinhts Ixl Yes f1 No ACTUAL PRICE $ 375.000 I TERMS OF SALE Consideration Verified With - III .1 KIND SIZE CONDI- OF DIMENSION TION FOUN- OR AREA STOR- OF DA- OF GROUND IES BUILD- TION FLOOR ING (5) (6) (71 (8) TOT ALS . FACILITIES T Water r l Gas 1 Central Heat I I Seotic Tank r 1 Sewer ><CONTFtIBUTOFtytANDVAlOESBYMAI'tKETASS1'flACtION)> DEPTH OF KIND OF TOPSOIL SUBSOIL TOPOGRAPHY (4) (5) (6) 10-12" SiltLoam 0-3% 8-10" SiltLoam 3-8% 6-8" SiltLoam 8-15% 8-10" SiltLoam 3-8% Agrarian Associates II UNITED STATES DEPARTMENT OF AGRICU URE FARMERS HOME ADMINISTRATION REAL ESTATE SALES DATA II Buyer I Randv S. Shuman II Seller Ronald Bollinaer Date of Transfer 6/22/01 !xl Deed n Contract Property commonly known as: II II KIND OF BUILDING E CON- KIND Y AR BUILT S;~UNC- R~~F RE- PLACE- MENT COSTS (1 ) II A. . DWELLINGS II B. None C. D. III E. II F. (2) (3) (4) (9) $ II' .................. "',..-........... II...................................................... II::.... . ....... USE OF LAND ACRES SOIL DESCRIPTION III (1) II CROPLAND (3) (2) 67.93 HuA DuB HcC HcB II File No. A005023C Town or Nearest Town Carlisle County Cumberland State pennsvlvania CONSIDERA TION USEFUL LIFE REMAIN ING CON- TRIBU TORY- VALUE REPLACE- MENT VALUE (10) (11 ) (121 % $ [ ] Electricitv $ VALUE PER ACRE (7) 5520 $ TOTAL (8) 375.000 TOTAL CROPLAND II PERM. PASTURE 67.93 WOODLAND II FARMSTEAD II ROADS ETC. TOTAL 67.93 MARKET VALUE OF LAND $ 375 000 II COMMENTS: (Include any hazards, detriments or limiting conditions) Vacant land tract located alonq Route 11 near Mt Rock. Soils are limestone based and include Haqerstown, Duffield and Huntinqton Series. productivitv is very qood and estimated at .85 compared to the best countv soils. Land is all tillable. Property II located in Penn Township which does not have zoninq. Property has very qood road frontaqe on 2 roads. Land is enrolled in Clean and Green. . II Overall & Land Value/Acre: 5520 'mHA 1922-9 (Rev. 6-931 MCS, a Division of ACI Development 18001 697-7783 Page' of 2 MCS Form RSO Agrarian Associates II LANDLORD'S RETURN YIELD TOT AL PRODUCTION CASH AND/OR RENTAL SHARE CROPS ACRES PER PRICE GROSS RATE OR ACRE AMOUNT VALUE II PER UNIT VALUE PERCENT (1) (2) (3) (4) (5) (6) (7) (8) Corn 67.93 115 7812 2.65 $ 20702 100 $ 20702 FARMSTEAD, DWELLING RENTAL CASH RENT WOODLAND II WASTELAND, ROADS, ET PERMANENT PASTURE TOTALS $ DEDUCTIONS II REAL ESTATE TAXES AND ASSESSMENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $ II INSURANCE COSTS ON BUILDINGS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . MAINTENANCE COSTS BUILDINGS, FENCES. WATER SUPPLY. TILE. . . . . . . . . . . . . . . . . . . . . . . II OPERATING AND MAINTENANCE COSTS FOR IRRIGATION AND DRAINAGE. . . . . . . . . . . . . . . . . . ANNUAL PAYMENTS ON BONDED DEBTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . II OTHER DEDUCTIONS (SEEDS, CROP INSURANCE, WATER CHARGES, FERTILIZER. LIME SPRAY. . . MATERIAL, HAULING, HARVESTING, GINNING, AND MARKETING EXPENSES) II Corn Expenses 157/Acre II II TOTAL DEDUCTIONS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NET FARM INCOME. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . II CAPITALIZATION RATE FOR THIS COMPARABLE 2.60% II (NET FARM INCOME/ACTUAL PRICE = CAPITALIZATION RATE) lHA 1922-9 IRev. 6-931 MCS, a Division of ACI Development (8001 697-7783 10961 9741 ACTUAL PRICE $ 375,000 Page 2 of 2 MCS Form RSD . . ~ ctl E ;::i ..c: (/) 0. ctl ::8 ...-l -..-I o (/) I UNITED STATES DEPARTMENT OF AGRICULTURE FARMERS HOME ADMINISTRATION I REAL EST ATE SALES DATA Buyer Date of Transfer Town or Nearest Town I Edward and Marian Nolt 1/6/00 Newville Seller ~ Deed n Contract County Donald & Shirlev Heishman.Twvla & Ralnh Kauffman Cumberland Property commonly known as: State II Pennsylvania IDENTlFICA TION OF PROPERTY ACRES CONSIDERA TlON (Use Sec., Two., Rae., when aooHcablel OR LOTS I 63.54 Acre Fa~ West Pennsboro Townshin 63.54 Amount Stated $ 300 000 Deed: 214-592 Federal Stamos $ I. Parcel: 46-09-0517-019 State Stamos $ TOTAL ACRES OR LOTS CONVEYED 63.54 Assumed MortQaoe $ II MINERAL RIGHTS 100% $/AC Water Rinhts Ixl Yes r No ACTUAL PRICE $ 300 000 II TERMS OF SALE Consideration Verified With I 1\ CONTRIBUTORY VALUE OF BUILDINGS AT TIME SOLD KIND SIZE CONDI- USEFUL CON- I RE- CON- KIND OF DIMENSION TION PLACE- LIFE REPLACE- TRIBU YEAR I KIND OF BUILDING STRUC- OF FOUN- OR AREA STOR- OF MENT REMAIN MENT TORY- BUILT TlON ROOF DA- OF GROUND IES BUILD- COSTS ING VALUE VALUE i TION FLOOR ING (1 ) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11 ) (12) II A. * DWELLINGS old Br M St 1740 2 Fair $ 118383 70% $ 82868 II B. Bank Barn old Fr M St 5940 2 Fair 81022 21 17015 C. Shed old Fr M Conc 1008 1 Fair 8890 21 1867 I D. E. F, 85% TOTALS 101750 86488 I * FACILITIES rx Water r 1 Gas x Central Heat rxl Seotic Tank r 1 Sewer Ixl Electricitv ............................................................\..................................<.............>'..CON"tftIBtttOftY t.ANOVAlUES..'SYMAAKEt AaSTRACtJON..... ...><......>............................. USE OF LAND SOIL DESCRIPTION DEPTH OF KIND OF VALUE ACRES TOPSOIL SUBSOIL TOPOGRAPHY PER ACRE TOTAL I (1) (2) (3) (4) (5) (6) (7) (81 CROPLAND 60 HaB 8-10" Si1tLoam 3-8% $ 3400 $ 204000 HcB 8-10' , SiltLoam 3-8% I HaC 6-8" SiltLoam 8-15% TOT AL CROPLAND 60 I PERM. PASTURE I WOODLAND FARMSTEAD ROADS ETC. 3.54 HaC 6-8' , SiltLoam 8-15% 2687 9512 TOTAL 63.54 MARKET VALUE OF LAND $ 213.512 I COMMENTS: (Include any hazards, detriments or limiting conditions) General fa~ located alonq Oak Flat Road in West Pennsboro Township. Property sold subiect to an aqricultural easement. Fa~ is a total of 63.54 acres with all the land tillable except the buildinq site. Tillable soils are all Haqerstown Series with I 3-15% slopes. Soil Productivity is estimated at .91 compared to the best county soils. Fa~ located in the Aqricultura1 Zoninq District. Road frontaqe totals about 550 feet. Land Value/Acre: 3360 I Bui1dinq Value/Acre: 1361 Overall Value/Acre: 4721 Agrarian Associates FmHA 1922-9 (Rev. 6-931 MCS, a Division al ACI Development 18001 697-7783 File No A005023C Page 1 01 2 MCS Form RSD Agrarian Associates TOT AL PRODUCTION LANDLORD'S RETURN YIELD CASH AND/OR RENTAL SHARE CROPS ACRES PER PRICE GROSS RATE OR ACRE AMOUNT VALUE II PER UNIT VALUE PERCENT (1 ) (2) (3) (4) (5) (6) (7) (8) Corn 60 123 7380 2.65 $ 19557 100 $ 19557 FARMSTEAD, DWELLING RENTAL CASH RENT House 650/me 7800 100 7800 Barn 150/me 1800 100 1800 WOODLAND II WASTELAND, ROADS, ET TOTALS $ PERMANENT PASTURE II DEDUCTIONS REAL ESTATE TAXES AND ASSESSMENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $ II INSURANCE COSTS ON BUILDINGS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . MAINTENANCE COSTS BUILDINGS, FENCES, WATER SUPPLY, TILE. . . . . . . . . . . . . . . . . . . . . . . II OPERATING AND MAINTENANCE COSTS FOR IRRIGATION AND DRAINAGE. . . . . . . . . . . . . . . . . . ANNUAL PAYMENTS ON BONDED DEBTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . II OTHER DEDUCTIONS (SEEDS, CROP INSURANCE, WATER CHARGES, FERTILIZER, LIME SPRAY. . . MATERIAL, HAULING, HARVESTING, GINNING, AND MARKETING EXPENSES) II Corn Expenses 157/Acre II II TOTAL DEDUCTIONS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14140 NET FARM INCOME. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15017 II I CAPITALIZATION RATE FOR THIS COMPARABLE 5.00% I (NET FARM INCOME/ACTUAL PRICE = CAPITALIZATION RATEI ACTUAL PRICE $ 300000 'HA 1922-9 (Rev. 6-931 MCS, a Division of ACI Development 18001 697-7783 Page 2 of 2 MCS Form RSD . . v..... HaS ,~~~. Soil Map - H . elshman Ie o. 11 ITED STATES DEPARTMENT OF AGRICULTURE FARMERS HOME ADMINISTRATION \1 REAL EST A TE SALES DATA I Buyer Date of Transfer Town or Nearest Town Walter and Ruth Ann Nolt 3/23/01 Shiooensbura II Seller !xl Deed n Contract County Clare and Edna Kerns Cumberland Property commonly known as: State I; pennsvlvania IDENTIFICATION OF PROPERTY ACRES CONSIDERA TION (Use Sec., Two., Roe., when annlieable) OR LOTS 32.99 Acre Farm. Southamoton Townshio 32.99 Amount Stated $ 139.490 I Parcel: 39-10-0610-18D Federal Stamos $ II Deed: 241-425 State Stamos $ TOT AL ACRES OR LOTS CONVEYED 32.99 Assumed Mortoaoe $ II MINERAL RIGHTS 100% $/AC Water Riohts !xl Yes r No ACTUAL PRICE $ 139 490 II TERMS OF SALE Consideration Verified With I I CONTRIBUTORY VALUE OF BUILDINGS AT TIME SOLD II KIND SIZE CONDI- RE- USEFUL CON- CON- KIND OF DIMENSION TION PLACE- LIFE REPLACE- TRIBU YEAR II KIND OF BUILDING STRUC- OF FOUN- OR AREA STOR- OF MENT REMAIN MENT TORY- BUILT TION ROOF DA- OF GROUND IES BUILD- COSTS ING VALUE VALUE TION FLOOR ING (1 ) (2) (3) (4) (5) (6) (7) (8) (9) (10) (1 1 ) (12) I' A, * DWELLINGS $ % $ B. C. None D. I E. II F. TOT ALS 11(: * FACILITIES r Water r l Gas Central Heat L J Seotic Tank r l Sewer r l Electricitv CbNTfttSUmOftVlANOVAtJ..JESSVMARKETA13STRACtlON> DEPTH OF KIND OF VALUE USE OF LAND ACRES SOIL DESCRIPTION TOPSOIL SUBSOIL TOPOGRAPHY PER ACRE TOTAL II CROPLAND (1) (2) (3) (4) (5) (6) (7) (8) 32.99 EdB 8-10" SiltLoam 3-8% $ 4228 $ 139480 EdC 6-8' . SiltLoam 8-15% Ii HuA 10 -12 . . SiltLoam 0-3% . TOT AL CROPLAND I: PERM. PASTURE WOODLAND II FARMSTEAD ROADS ETC. I TOTAL 32.99 MARKET VALUE OF LAND $ 139.480 II COMMENTS: (Include any hazards, detriments or limiting conditions) Vacant land tract located alona Ridqe Road in Southampton Township. Township does not have zonina. Soils are about 2/3 Edam and 1/3 Huntinaton Series. Soil Productivity is very aood and estimated at .77 compared to the best countv soils. Land is 1 all tillable. Property was subdivided from a 60 acre farm. Property not enrolled in Clean and Green at time of sale. Road frontaae totals about 800' . 1 Overall & Land Value/Acre: 4228 Agrarian Associates FmHA 1922-9 (Rev. 6-931 MCS. a Division of ACI Development (800) 697-7783 FI N A005023C Page 1 of 2 MCS Form RSD Agrarian Associates LANDLORD'S RETURN YIELD TOT AL PRODUCTION CASH AND/OR RENTAL SHARE CROPS ACRES PER PRICE GROSS RA TE OR ACRE AMOUNT VALUE II PER UNIT VALUE PERCENT (1 ) (2) (3) (4) (5) (6) (7) (8) Corn 32.99 104 3431 2.65 $ 9092 100 $ 9092 FARMSTEAD, DWELLING RENTAL CASH RENT WOODLAND II WASTELAND, ROADS, ET TOT ALS $ PERMANENT PASTURE II DEDUCTIONS REAL ESTATE TAXES AND ASSESSMENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $ 158C&G est II INSURANCE COSTS ON BUILDINGS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . MAINTENANCE COSTS BUILDINGS, FENCES, WATER SUPPLY, TILE. . . . . . . . . . . . . . . . . . . . . . . II OPERATING AND MAINTENANCE COSTS FOR IRRIGATION AND DRAINAGE. . . . . . . . . . . . . . . . . . ANNUAL PAYMENTS ON BONDED DEBTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . II OTHER DEDUCTIONS (SEEDS, CROP INSURANCE, WATER CHARGES, FERTILIZER, LIME SPRAY. . . MATERIAL, HAULING, HARVESTING, GINNING, AND MARKETING EXPENSES) II Corn Expenses 157/Acre II TOTAL DEDUCTIONS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5337 NET FARM INCOME. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3755 ACTUAL PRICE $ 139490 CAPITALIZATION RATE FOR THIS COMPARABLE 2.70% (NET FARM INCOME/ACTUAL PRICE = CAPIT ALlZA TION RA TEl nHA 1922-9 IRev. 6-931 MCS. a Division of ACI Development 18001 697-7783 Page 2 of 2 MCS Form RSD . . Soil Map - Nolt Farm Agrarian Associates File No. A005023C II II ITED STATES DEPARTMENT OF AGRICULTURE FARMERS HOME ADMINISTRATION REAL ESTATE SALES DATA !xl Deed n Contract Town or Nearest Town Lees Cross Roads County Cumberland State pennsvlvania Date of Transfer 12/1/99 IDENTlFICA TION OF PROPERTY ACRES (Use Sec., Twp., Roe., when aoolicablel OR LOTS 60.40 Acre Land Tract. Penn Townshio 60.40 Amount Stated $ 225.000 I Deed: 212-389 Federal Stamos $ II Parcel: 31-12-0330-008 State Stamns $ TOTAL ACRES OR LOTS CONVEYED 60.40 Assumed Mortqaae $ 1,1 MINERAL RIGHTS 100% $/AC Water Riahts Ixl Yes r No ACTUAL PRICE $ 225 000 II TERMS OF SALE Consideration Verified With .. III II KIND SIZE CONDI- OF DIMENSION TION FOUN- OR AREA STOR- OF DA- OF GROUND IES BUILD- TION FLOOR ING (5) (6) (7) (8) CONSIDERATION II KIND OF BUILDING YEAR CON- KIND BUILT STRUC- OF TION ROOF RE- PLACE- MENT COSTS USEFUL LIFE REMAIN ING REPLACE- MENT VALUE CON- TRIBU TORY- VALUE (1 ) III A. * DWELLINGS B. C. None D. I E. II F. (2) (3) (4) (9) (10) (11 ) (12) $ % $ III (1) II CROPLAND TOTALS II' * FACILITIES r Water r 1 Gas l Central Heat [ ] Seotic Tank r 1 Sewer r 1 Electricitv IICONTFUaDmO~YLANOVAtUE.sSYMJO~I<.EmABSTaA.CtlON<> DEPTH OF KIND OF 0 P VALUE USE OF LAND ACRES SOIL DESCRIPTION TOPSOIL SUBSOIL T POGRA HY PER ACRE (2) (3) (4) (5) (6) (7) 60.40 MuA 10-12" SandLoam 0-3% $ 3725 $ MuB 8-10" SandLoam 3-8% MuC 6 - 8' , SandLoam 8 -15% TOTAL (8) 225 000 TOT AL CROPL-AND I: PERM. PASTURE 60.40 WOODLAND II FARMSTEAD II ROADS ETC. I TOTAL 60.40 MARKET VALUE OF LAND $ 225.000 II COMMENTS: (Include any hazards, detriments pr limiting conditions) Land tract located alonq Beetem Hollow and Blue Pond Roads I in Penn Township. Land sold sub;ect to an aqricultural conservation easement. Land is all I tillable and soils are all Murrill Series. Soil Productivity is estimated at .89 compared to the Ilbes7 county soils. Road frontaqe totals about 4.600 linear feet. Penn Township does not have ZOn1nq. I I Land Value/Acre: 3725 i'mHA 1922-9 (Rev. 6-931 MCS, a Division of ACI Development (8001 697-7783 Page 1 of 2 MCS Form RSD Agrarian Associates LANDLORD'S RETURN YIELD TOT AL PRODUCTION CASH AND/OR RENTAL SHARE CROPS ACRES PER PRICE GROSS RATE OR ACRE AMOUNT VALUE II PER UNIT VALUE PERCENT (1 ) (2) (3) (4) (5) (6) (7) (8) Corn 60.40 120 7248 2.65 $ 19207 100 $ 19207 FARMSTEAD, DWELLING RENT AL CASH RENT WOODLAND II WASTELAND, ROADS, ET TOTALS $ PERMANENT PASTURE DEDUCTIONS II REAL ESTATE TAXES AND ASSESSMENTS. . 0 0 . 0 . 0 0 . 0 0 0 0 0 . . 0 0 0 0 . . 0 . . . . . 0 0 0 0 . 0 . 0 0 0 0 0 $ II INSURANCE COSTS ON BUILDINGS. . 0 . . 0 . 0 0 . 0 . 0 0 . 0 . 0 0 0 0 . . 0 . 0 0 . 0 . . 0 . . . 0 . . 0 . 0 0 0 0 . . . MAINTENANCE COSTS BUILDINGS, FENCES, WATER SUPPLY, TILE. 0 0 0 0 0 0 . 0 0 0 0 0 . . 0 . . 0 0 0 0 . II OPERATING AND MAINTENANCE COSTS FOR IRRIGATION AND DRAINAGE. . 0 . 0 . . 0 . . . . 0 . 0 . . . ANNUAL PAYMENTS ON BONDED DEBTS. 0 0 . 0 . 0 0 0 0 . 0 0 0 0 . . . . . 0 . 0 . . . 0 . 0 . 0 . 0 . . . . . . 0 0 0 II OTHER DEDUCTIONS (SEEDS, CROP INSURANCE, WATER CHARGES, FERTILIZER, LIME SPRAY. . . MATERIAL, HAULING, HARVESTING, GINNING, AND MARKETING EXPENSES) II Corn Expenses 157/Acre II II TOTAL DEDUCTIONS. . 0 . . . . 0 . 0 0 0 0 0 . . 0 0 0 . . . . 0 0 . . . . . 0 .0 . 0 . 0 0 0 0 0 . 0 . . 0 0 . . . 0 10530 NET FARM INCOME. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8677 II ACTUAL PRICE $ 225000 CAPITALIZATION RATE FOR THIS COMPARABLE 3.90% II (NET FARM INCOME/ACTUAL PRICE = CAPITALIZATION RATEI ,HA 1922-9 (Rev. 6-93) Meso a Division of ACI Development (8001 697-7783 Page 2 of 2 MCS Form RSD . . Soil Map Barrick . . BRIAN D. PEDRICK IFAA FORMAL EDUCATION: The Pennsylvania State University, University Park, PA 16802. Received a Bachelor of Science degree in General Agriculture in 1982. National Association of Independent Fee Appraisers Inc. Principles of Farm, Ranch and Rural Appraising - 1996 Advanced Farm, Ranch and Rural Appraising - 1996 Capitalization Rates, Discount Rates and Ratios - 1996 Uniform Standards of Professional Appraisal Practice - 1997, 2000 Pennsylvania Real Estate Appraiser Law and Regulations - 2000 Litigation Valuation - 2001 Appraisal Institute Partial Interest Valuation - Undivided - 2000 Assessors' Association of Pennsylvania Fundamentals of Real Estate Appraisal - 1993 Site and Market Analysis - 1993 Cost Approach to Value - 1993 Income Approach to Value - 1993 Appraisal Standards and Ethics - 1995, 1997 Pennsylvania Real Estate Law and Regulations, 1999 Berks Real Estate Institute Real Estate Tax and Investment, 1998 Pennsylvania Realtors Institute Appraisal Standards and Ethics - 1993 Narrative Report Writing - 1993 Introduction to Commercial Appraisals - 1993 Institute of Real Estate Studies Real Estate Law - 1993 Real Estate Investment - 1995 Real Estate Finance - 1995 Residential Construction - 1996 Property Management - 1997 Lee and Grant Company Appraising Historic Properties - 1995 Environmental Hazards - 1995 Eminent Domain - 1995 Appraisal Standards and Ethics - 1995 McKissock Data Systems Real Estate Fraud - 2001 Expert Witness Testimony - 2001 Received credit for 21 undergraduate business courses from area universities, 1985-1988. . . PROFESSIONAL EXPERIENCE: Agrarian Associates, Inc.: President and Director of Appraisal Services, 1993 to present. Responsible for the administration of appraisal services for the south-central Pennsylvania area. Agrarian Associates Inc. is an appraisal company that specializes in Real Estate appraisal of agricultural properties, including Fair Market Values, Agricultural-Use Values, Property Tax Assessment Appeals and Conservation Easement Values. USDA Farmers Home Administration: 1983-1993. County Supervisor in Lancaster, Berks and Schuylkill Counties. Responsible for the administration of a variety of Agricultural and Residential loan and grant programs including all aspects of loan making and servicing. Duties included appraisals of farms, residential properties and chattels and providing management and technical advice to borrowers as well as the management of the county office. Caseload included 150 farm accounts and 600 housing accounts. Certification, Designations and Memberships: State Certified General Appraiser. General Certification # GA-001200-L. Senior Agricultural Designation - National Association of Independent Fee Appraisers (NAIFA). Member of the Assessors' Association of Pennsylvania (AAP). North Cornwall Township Agricultural Preservation Board Member Member of the Lebanon County & Pennsylvania Builders Association Past President, Mount Gretna Snowmobile Volunteers SAMPLE ASSIGNMENTS (Al:rarian Associates Inc.): 2,500-sow farrow to feeder complex 600,000-bird layer operation 800-cow dairy facility 2,800-sow farrow through wean facilities Sew pig nurseries Wean through finish hog facilities 48-unit subsidized elderly housing complex 48-unit subsidized housing complex 100,000 bird/year feather bird complex (fly fishing lures) Over 40,000 Acres of Land for Agricultural and Conservation Easement Purposes ACCOMPLISHMENTS (FmHA): County Office of the Year, 1991. County Supervisor of the Year, 1989. Runner-up County Office of the Year, 1985. Most active office in Pennsylvania based on loan volume, 1991 and 1992. Only office in Pennsylvania to implement the Guaranteed Rural Housing Loan Program(1992). Among the lowest farm and housing program delinquencies in Pennsylvania. Eliminated 25 collection farm accounts while covering Berks/Schuylkill Counties. . . ACCOMPLISHMENTS (A~rarian Associates Inc.: Real Estate Appraisals of 150-250 agricultural properties per year. Approved appraiser by most of the agricultural lenders throughout central and south-central Pennsylvania. Counties serviced include; Adams, Bedford, Berks, Centre, Chester, Clinton, Columbia, Cumberland, Dauphin, Franklin, Fulton, Huntington, Juniata, Lackawanna, Lancaster, Lebanon, Lycoming, Mifflin, Monroe, Montgomery, Northumberland, Perry, Schuylkill, Snyder, Union, Wayne and York. OFFICE: Agrarian Associates, Inc. 243 South 8th Street, Suite 2 Lebanon, P A 17042 (717) 228-1510 - telephone (717) 228-1512 - fax agrarian@nbn.net - e-mail . . r"l 0 0 tIl C'\l Q) .... 0 .s. ~ r"l ~ 5 IJ ~ ~~ .'" ~ :>0 cd ~~ r-l P2S: 0 .a ......trl 0 ~O~ cd i!~ C'\l UE-<o-' ;> ~ "0 ~11) or- Q) P2V) ..= ~ UJ = I.D fi3~ "-l ...... ..s tIl r::: .g g<~ r/) tIl r-l ...... ..... r:::r/) uo-. <: o-.~z 11) U' ~ ~ 0.. 'aoe? 0 ~ ~ ~ o~o 4-< ...~2 -' 0.. ~oz 0 '" 0.. .", Z~ r::: tIl u <: " -5 11) .S lJ:: i;l P20~ - Si'" .C;; ....:J ~ ~N~ cd tIl N.....l t::o::I:: '" 11) 0 ~ ~ cd .... o..~O:- r::: 11)~"<t UJ 0 o 0 1.0 Z . S ....N ~ '<:II S 0-.><: UJ ..s 0"\ ......0 0 0 0"\ 0 o~ r-l U 1il . ~ .2 ~o ~ ['- = . 0 ~o-. u lJ:: .... 111 -' .... Q) ril U ~ .... ~ = Z Q) ~ u :g ~ U ....:l I o o C'\l r-l o o I ~ C9 . . EPSUCHEOLIGE L. HOFFMAN FORMAL EDUCATION CORNELL UNIVERSITY, Ithaca, New York Received a Bachelor of Science degree in Animal Science with a Farm Business Management and Finance minor in 1995. - Dean's Ust Applicable Course Work: Fundamentals of Real Estate Appraisal, Site and Market Analysis, Cost Approach to Value, Income Approach to Value, Farm and Rural Residential Appraisal, Uniform Standards of Professional Appraisal Practice, Farm Finance, Advanced Farm Finance, Farm Business Management, Advanced Farm Business Management, Estate Planning,.. PROFESSIONAL EXPERIENCE AGRARIAN ASSOCIATES, INC., Lebanon, Pennsylvania 2000 - Present Appraiser's Assistant . :' Assisting in" the appraisal of agricultural properties throughout Central Pennsylvania. Researching and gathering courthouse information on subject and comparable properties including checking zoning and deeds, verifying sales prices and conditions of sales. Assisting in preparation of appraisal reports by calculating soil productivity indexes, sketching deeds, visiting farms and collecting data, writing narratives, MEADOW GOLD DAIRY, Greeley, Colorado . 1997 - 1999 Laboratory Technician Developed and maintained a product weight control program by utilizing statistical process controls, preventing the overfilling of containers and saving the company $2,000 weekly. Trained new employees on laboratory processes and procedures. Performed a full range of microbiological, chemical and physical evaluations of products. HCR REAL ESTATE, Hereford, Texas 1995 - 1996 Appraiser Trainee / Realtor , Assisted in performed real estate appraisals using sales comparison approach. Presented real estate to prospect~ve buyers and procured new listings. CORNELL UNIVERSITY, Ithaca, New York 1994 - 1995 Dairy Fellow Involved in a two-year intensive study and application in dairy fann management and finance. Prepared farm consultant reports on topics such as dairy herd management, nutrition, herd health, crop management, and farm expansion and presented them to farm families. Farm Credit Fellow Collected and analyzed data on dairy fanns within the Fann Credit's loan portfolio. Prepared loan analyses and recommehdations and presented them to Fann Credit. Presented consultant reports to dairy farmers. FARM CREDIT NCJ, Newton, New Jersey Summer 1994 Loan OffIcer Intern Worked with a diverse loan portfolio, including dairy, greenhouse, and vegetable farms. Entered and analyzed credit data and projected cash flows. Wrote narratives, edited loan applications, and updated security agreements. Visited farm businesses and collected credit information. . . SSOCIATES, INC. APPRAISAL REPORT FOR LEHMAN DAIRY . . LEHMAN DAIRY FARM HOUSE FARMSTEAD - LEHMANDAIRYFARM- HOUSE AND GARAGE MILKHOUSE AND PARLOR . LEHMAN DAIRY FAR. HEIFERlDRY COW BARN CORN CRIB AND SHED . LEHMAN DAIRY FARrI' FIELDS FIELDS - LEHMAN DAIRY FARM- FIELDS FIELDS . . LOCATION MAP ~_-\ ''i,Entlerville ;e /"\;,:::::~ '<~c. / " /~, '. -1 " ' rs-,:y /\ (~) 'v --', ; \ / \~ ',' , _",-J>~";~l'- ", / ')' "'(' ~"i', ~ \ 53~~~-:' / ~- /\ r-.......~..... .------ I '\ / ;- n,\' /,-1 /~\ I ~~, / ~y-~,) ./ \---'\ ~ \ '(~ \ \ /// ~"v>\'J ~~; >\ C />(~,~ ~ (, 0 \- r---:g, " ~)ik----- (/ ~"'-t' tf ) \, ~ ' '110' h ,,~(J'~'- 'fP "'-'. Y" -'{::CJs l4/~ ""'" ~~'tr 81 _~~~/~, ,~ -\-\_\f~ ./ ~ "') $:/ )"" _ 2:"':[:'_", /- /' ~ \)..1 ,-'\ \; \~7 ! ~ ~/ / ~~ j I (( ~ ~),'~ ~~~ 0r ;: . ./ ..-L-- \......-\' ~ 0l1\----/ ,.,.'.J 1'-"" i 46~- if \ " . '., \ <'-7l ______,'~.. /---.--- \ '" ---1'-- \ I 'Gl /-:\'9'""'.. ' ~ (..>.......'............ ~ ,/ " r-e:-.,,J / \ , I /----'iiJ v/ \:" ''I:- ...., .' 1><<0 \ \ '$.,) / --><: r' ~ I \'::1" , .'1' .)' -,,-'o """"'\-< 1,f? )<,)-" V~<. \_. _ ~o \ j\ @ ( )/~ ,---.-i____" \) , ~"'\ \1 ~ / "-<~ 'J( I ,ffi\foll' '_ '-, ~ - +- \y' 0.(,,/ ,,// "<1" /./~ 1-~j \. \"\ (~ !--'~ \ / /\,:3.. '- /~ \'0-,,\ /r.:s:> \ (PI' \ \,~ /' / "- ~. / "?'r:9. \,/ ~ ,// '6 ..s:? J \ '\' ,/ I"~ \ ,\' / 'o,~ ~^., 0- -".,,' <l'(Il "".~. / \1,1. ,"'- ____, '4-'-'~-~z,. \./\ / / (.\\ - ,/"--' 'A~ 0" l-""" ,,----- ' -.} ( , )~/' "-('40!19~ ;!~gl-~ /:/\//\ ") / ~//>,/ /~~~~ '~ '\~ g; , LEHMAN FARM ~irfleld '\ ROC\(. ~::fClJ/./ 0 < '~641" _---- ~-, ,. \3\I.l~ , ~ oads \ 3 - - ,-' .- - ..-------- "/~ #' \ 0:: \ .-/-' - / 465 ~-f' A,s:,. \~..., \ //1-------_ ~-~\\:\;e.~\~~~(-\~"___ \_____________ " \ ~ (~f iD ~ I )~ /," '00 <4~ ~.... ../( - " 0/.-! / ~ / 6 ' 0 .- ... I ( 'f ! ~e- ~ -;-. i ~ . . ~ ) , If:::. ,/ C'O~\\S '. r . ~ '-i----~9;;jy d '?--~ ~ , I .-. - '.:'-<\ J ~ 0:: ) pet _ , .'!S>'O.~,/ ~ 01 '\, ,~/ ~ ' -~----, ~",'i> >' w,e} <(-!-/I '0 I Cro~ / I, 'c' ",~'?f-./- "v'" >. .,3.$rOi'f \, 9:1 '_ ~e~_; ~ -' '__,,0 SCft'o"" (1)/ ;' -----, I '" "'i1T'~ , ~'i>('" ~t f "~;~~rl \. '% .'--_____ Mount Rock Rd ), . .~ \-f" ---------f-- \ "7., \~ \'~ \- ',~ 1'0 .J \~>" ~r ~-'\ ) I l' -~.z~\ \ .../"r/ /f _/ I ';-<-/ / I -----~~ ,..-/'-\---/ j' -....~ '~'-..... :;..-----.... I ( \ \ I \ \ R ' h-/-' ,~~:Iartr!_ ~L tPl "" './ \ ; \ ~\_, . ~ I cz> I 0" " q;,<::'. ..-J;S / <.1'... "'~ , ~) <.," \-('/ \. 'I W Old Y~/;k Rd Omi -- Streets9S Copyright C 1988-1997, Microsoft Corporation andlor its suppliers. All rights reserved. Please visit our web site at http://maps.expedia.com. "'--,....., i '--, I (' \ ~ <$Iv. \0. '-/~~0 " / I O~),,: I U'<s> ' \ ~ \ 0- \ \ \ ~j \/' \, \ \ \ '-. \ \ \ 2 3 Page 1 . . Real Estate Appraisal of Donald D. Lehman Estate Farm Kerrs Road Carlisle, PA 17013 Cumberland County, Pennsylvania 113.00 Acres Prepared For: O'Brien, Baric, and Scherer 17 West South Street Carlisle, PA 17013 Prepared By: Agrarian Associates Inc. 243 South 8th Street, Suite 2 Lebanon, P A 17042 Effective Date of Appraisal: June 19, 2001 Date Submitted: January 8, 2002 . . AGRARIAN ASSOCIATES INC. 243 South 8th Street, Suite 2 Lebanon, P A 17042 APPRAISAL REPORT I. Introduction . . APPRAISAL DIVISION BRIAN D. PEDRICK, IFAA State Certified General Appraiser License #GA-001200-L 243 S. 8th Street, Suite 2, Lebanon, PA 17042 (717) 228-1510 FAX: (717) 228-1512 e-mail: agrarian@nbn.net January 8, 2002 Mr. David Baric O'Brien, Baric and Scherer 17 West South Street Carlisle, PA 17013 Dear Mr. Baric: In accordance with your request for appraisal of the Donald D. Lehman Estate Farm located along Kerrs Road, West Pennsboro Township, Cumberland County, I have estimated the fair market value ofthe 113.00 acres and improvements to be as follows: As Is ***Six hundred and eighty thousand dollars*** $680,000 The interest being appraised is a fee simple estate. The effective date of appraisal is June 19, 2001, the date of Mr. Lehman's death. I have made a careful study of the property and all related data and information documented in the report. I have considered all appropriate approaches to value and have complied with the intent and purposes of the Uniform Standards of Professional Appraisal Practice (USP AP) and procedures and regulations pertaining to this Limited Summary appraisal. I trust that you will find this report complete and to your satisfaction. If you have questions, feel free to contact me any time. c~ . . Brian D. Pe rick, IF AA State Certified General Appraiser SPECIALIZING IN CERTIFIED: FOR NON-BIASED: . Fair Market Values . Agricultural-Use Values . Conservation Easement Values . Marketing . Taxation Estate Planning . Settlements. . . CERTIFICATE OF APPRAISER: I certify that, to the best of my knowledge and belief. . . 1. This appraisal is in compliance with FIRREA, Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 and conforms to the Uniform Standards of Professional Appraisal Practice (USP AP) for a Limited Summary appraisal report. 2. The statements of fact contained in this report are true and correct; 3. The reported analyses, opinions and conclusions are limited only by the reported assumptions and limiting conditions and are my personal, unbiased analyses, opinions and conclusions; 4. I have no present or prospective interest in the property that is the subject of this report and I have no personal interest or bias with respect to the parties involved; 5. My compensation is not contingent on an action or event resulting from the analyses, opinions, or conclusions in, or the use of, this report; 6. My analyses, opinions and conclusions were developed, and this report has been prepared in conformity with the requirements of the Code of Professional Ethics and the Standards of Professional Practice of the National Association of Independent Fee Appraisers; 7. A personal inspection of the property was made and is reflected by the supporting data documented in this report; 8. Based on all elements that could reasonably affect the value of the Donald D. Lehman Estate Farm property and considering the Assumptions and Limiting Conditions contained herein, I have estimated the fee simple market value of the subject property, as of June 19, 2001, of: As Is *** Six hundred and eighty thousand dollars*** ~,ooo Brian D. Pedrick, IF AA State Certified General Appraiser License # GA-001200-L January 8, 2002 (fWul~i / jln~<lft1 Epsucheolig L. Hoffman Appraiser's Assistant January 8, 2002 1 . . srrATEMENT OF LIMITING CONDITIONS TillS REPORT, INCLUDING THE CERTIFICATION CONTAINED HEREIN, IS MADE EXPRESSLY SUBJECT TO THE FOLLOWING LIMITING CONDITIONS: (1) The report is not an authorized copy unless it is signed in blue ink. (2) Possession of this report, or a copy thereof, does not imply the right of publication nor the right of use for any purpose by anyone other than the client to whom it is addressed, without the written consent of the appraiser. (3) Neither all nor any part of the contents of this report shall be conveyed to any person or entity, other than the appraiser's or firm's client, through advertising, solicitation materials, public relations, news, sales, or other media without the written consent and approval of the authors, particularly as to valuation conclusions, the identity of the appraiser or firm with which the appraiser is connected, or any reference to the appraiser's affiliation with any professional appraisal organization or designation. Further, the appraiser or firm assumes no obligation, liability, or accountability to any third party. If this report is placed in the hands of anyone but the client, client shall make such party aware of all the assumptions and limiting conditions of the assignment. (4) The use of this report is subject to the requirements of the National Association of Independent Fee Appraisers, as relating to review by their individual duly authorized representatives. Further, the disclosure of the contents of this report is governed by the By-Laws and Regulations of the National Association of Independent Fee Appraisers. (5) This report shall be used in whole and not in part. The loss or removal of any portion of the report invalidates the entire report. (6) The appraiser and/or firm, by reason of this report, shall not be required to give testimony or be in attendance in any court, administrative hearing or any conferences pertaining to such, unless proper notice, arrangements and compensation terms are made in advance. (7) The appraiser and/or firm by reason of this report, shall have no obligation to revise the conclusions presented herein in order to reflect events and/or conditions occurring subsequent to the date of valuation. (8) The appraiser and/or firm reserves the right to review, and revise if necessary, his judgments and conclusions on the basis of information withheld or not discovered in the normal course of diligent investigation. (9) The appraiser and/or firm has no responsibility for matters of a legal nature, questions of survey, opinions as to title, soil or sub-soil conditions, engineering or other technical matters. (10) The property is assumed to be free and clear of all liens, encumbrances and defects of title, except those specifically cited within this appraisal report. (11) Marketable title, competent management, responsible ownership and compliance with all governmental regulations and controls are assumed, unless specifically cited otherwise within this appraisal report. (12) The appraiser and/or firm assumes that all required licenses and/or permits, consents or other legislative or administrative authority from any local, state or national government or private entity or organization have been or can be obtained or renewed for any use on which the value estimate(s) contained within this report are based. This also assumes a timely manner without unusual cost. Unless otherwise specifically cited in this appraisal report. 11 . . STATEMENT OF LIMITING CONDITIONS (13) The appraiser and or firm assumes that there are no hidden or unapparent conditions of the property, sub- soil or structures which would render it more or less valuable than otherwise competitive/comparable property. The appraiser and or firm also assumes no responsibility for such conditions or engineering studies which might be required to discover such conditions. (14) Any sketches, maps or other exhibits prepared by the appraisers and illustrated within this report are included solely to aid the reader in visualizing the property and/or its location, and should not be construed as surveys or engineering drawings. (15) Each value estimate, finding, prediction, assumption or conclusion contained within this report is that of the appraiser's and is not to be considered as an assurance that an event will or will not occur. The value estimate is based upon appropriate research and applicable appraisal techniques; in that, by its nature, the appraisal of real estate is not an exact science, the end result is an opinion with which others may differ; the final estimate of value is not guaranteed and no warranty is implied or intended. (16) The current (effective date of appraisal) purchasing power of the U.S. dollar is the basis for the value estimate; no extreme fluctuations in economic cycles are anticipated. (17) Any allocation of value to the land and/or improvements contained within this report are based on the current program of utilization and are constituent parts of the total value reported. Neither allocation may be used in making a summation report by combining component values created by others. Either will be invalidated if so used. (18) If the property rights appraised herein relates to an estate that is less than the whole fee simple estate and is a fractional interest only, the value of the fractional interest plus the value of all other fractional interests mayor may not equal the value of the whole fee simple estate. (19) No consideration has been given to any furniture, trade fixtures, special equipment, personal property, the present worth of any business or enterprise and/or inventories that may be located on the subject property which are not normally considered part of the real estate. Any discussion of those items is for reference purposes only, and the appraiser and/or firm accepts no responsibility for the valuation of those items. (20) It is assumed that no ruins, artifacts or items of historical or archaeological significance have been discovered or exist on the subject property. (21) The Americans with Disabilities Act (ADA) became effective January 26, 1992. The appraiser has not made a specific compliance survey and analysis of the subject property to determine whether or not it is in conformity with the various detailed requirements of the ADA. It is possible that a compliance survey of the property together with a detailed analysis of the requirements of the ADA could reveal that the property is not in compliance with one or more of the requirements of this act. If so, this fact could have a negative effect upon the value of the property. Since the appraiser and/or firm has no direct evidence relating to this issue, they did not consider possible noncompliance with the requirements of ADA in estimating the value of the property. iii . . STATEMENT OF LIMITING CONDITIONS (22) Unless otherwise stated in this report, the existence of potentially hazardous substances, including without limitation asbestos, polychlorinated biphenyl, petroleum leakage, or agricultural chemicals, which mayor may not be present on the property, or other environmental conditions, were not called to the attention, nor did the appraiser and/or firm become aware of such conditions during their inspection. The appraiser and/or firm has no knowledge of the existence of such materials on or in the property unless otherwise stated. The appraiser and/or fIrm, however, is not qualifIed to test such substances, such as asbestos, urea formaldehyde foam insulation, or other hazardous substances or environmental conditions, which may affect the value of the property. The value estimated is predicated on the assumption that there is no such condition on or in the property or in such proximity thereto that it would cause a loss in value. No responsibility is assumed for any such conditions, nor for any expertise or engineering knowledge required to discover them. (23) It is assumed that no waste dumping of disposal activities have occurred upon the subject property; that there are no underground storage tanks situated on the subject property; and no activities have occurred or conditions been maintained on adjacent lands which have resulted in the contamination of the surface water, ground water or soils at the subject property, unless otherwise stated in the report. Unless otherwise stated in the report. (24) If required, any environmental impact statement prepared for the subject property is assumed favorable and will receive approval from the appropriate regulatory bodies. (25) To the best of the appraiser's and/or fIrms knowledge and belief, the information furnished to the appraiser or fIrm, and the statements of fact contained in this appraisal report, and upon which the analyses, opinions, and conclusions are expressed herein are based, are true and correct, subject to a reasonable effort having been made to verify such information. (26) It is assumed by the appraisers, the proposed construction (if any) will be completed in a good workman like manner, in compliance with all applicable building codes and government regulations, and in a timely fashion. (27) Acceptance of and/or use of this appraisal report constitutes acceptance of the foregoing assumptions and limiting conditions along with any other assumptions and/or conditions cited within the body of the report. (28) It is assumed by the appraisers that the property, if improved is served by an adequate and potable water source and that any waste disposal systems such as septic systems are permitted and functioning properly. (29) This is a summary appraisal report which is intended to comply with the reporting requirements set forth under Standards Rule 2-2(b) of the Uniform Standards of Professional Appraisal Practice (USPAP). As such, this report presents only compendious discussions of the data, reasoning, and analysis that were used in the appraisal process to develop the appraiser's opinion of value. Supporting documentation concerning the data, reasoning and analysis is retained in the appraisers' work files. The depth of discussion contained within this report is specific to the needs of the client and the intended use of the document. The appraisers are not responsible for unauthorized use of this report. iv Agrarian Associates File No. A20l008B UNITED STATES DEPARTMENT OF AGRICULTU FARMERS HOME ADMINISTRATION APPRAISAL REPORT - FARM TRACT State Pennsylvania County Cumberland II Owner/ApplicantDona1d D. Lehman Estate II *Legal Description and Number of Acres 113 Acre Farm, West pennsboro Township Deed: 249-2565 Parcel: 46-07-0479-022 *Purpose and Intended Use of Appraisal Estimate Fair Market Value For Estate P1anninq Purposes II *Rights Appraised l2f] Fee Simple 0 Leasehold 0 Other *Highest and Best Use of Property Aqricu1tural, Limited Residential *Extent of Process See Attachments II A. LOCATION NAME OF NEAREST TOWN Carlisle DIRECTION FROM TOWN. . . . . . . . . . . . . MILES FROM TOWN . . . . . . . . . . . . . . . . MILES FROM NEAREST SCHOOL MILES FROM NEAREST CHURCH Northwest @7 <5 N/A II II B. ROADS AND COMMUNITY CONDITION OF ROADS 0 E KIND OF FARM ROAD Gravel MILES TO NEAREST PUBLIC GRAVEL OR H-S ROAD 0 RIGHT OF WAY TO FARM ~ YES 0 NO FARM DIST. CONDITION 0 E ~ G 0 FOP TYPE OF FARMING IN COMMUNITY Dairy, Poultry, Genera ~G OF Op II II C. FARM SERVICES ~ R.F.D. ~ PHONE ~ POWER LINE MILES FROM ELEV. ~ GIN ~ MILK ROUTE MKTG. FACIL. ~ II II D. COMMUNITY FACTORS FARM COMPARED WITH AVERAGE IN COMMUNITY AVERAGE BETTER POORER ~ 0 0 ~ 0 0 ~ 0 0 ~ 0 0 II LOCA TION DESIRABILITY SALABILITY RENT ABILITY II E. CONDITION OF LAND GENERAL FERTILITY ~ E 0 G 0 FOP NOXIOUS None % WEEDS: Controlled % LAND NEEDS: DRAIN 2-- AC LEVEL 0 AC CONTOUR 0 AC OTHER(SPECIFY) AC IRRIGATED *No AC NAME OF IRRIGATION DISTRICT Land Value/Acre: 3208 Bui1dinq Value/Acre: 2802 Productivity Index: .94 Percent Tillable: 89% II II II I~ * Attachments as needed '. 'mHA 1922-' (Rev. 6-931 F. NATURAL RESOURCES * o MINERALS * o TIMBER o OTHER (SPECIFY) G. WATER. SOURCE .......... WELL DEPTH ....... CONVENIENT . . . . . . . ADEQUATE ... . . . . . DEPENDABLE. . . . . . . QUALITY ACCEPTABLE o OIL OR GAS o GRAVEL FARMSTEAD FAMILY USE LIVESTOCK Well Well 40' 40' YES NO YES NO ~ 0 ~ 0 ~ 0 l2f] 0 ~ 0 ~ 0 ~ 0 ~ 0 PASTURE AN CROPLAND YES NO o 0 o 0 o 0 o 0 H. HAZARDS. DETRIMENTS AND LIMITING CONDITIONS . o IDENTIFIED HISTORICAL/ARCHAEOLOGICAL SITES o WETLAND * ACRES 0 UNDERGROUND STORAGE TANKS o CONSERVATION EASEMENT 0 ACRES 0 HAZARDOUS WASTES o MUDSLlDE AREA o HIGHLY ERODIBLE LAND o FLOOD PLAIN o OTHER(SPECIFYI COMMENTS Farm has some soils with hydric inclusions I. OWNERSHIP HISTORY DATE BOUGHT 1955 CHANGES: See Part II COMMENTS J. TYPICAL RENTAL TERMS ANNUAL RENT $ SHARE See FSWA ACRES o ACRES ACRES 114 DATE PRICE $ unknown COSTS $ CASH $ 40-80/Acre % PROD. QTY. K. TAXES ASSESSED VALUE $324590 C&G REAL EST. TAXES 192001 ASSES. RATE 100 % $ 324590 MIL LEVY 11.207 SPEC. IMPROVE. DIST. TAXES * $ 3638 C&G MCS. a Division of ACI Development 18001 697-7783 Page 1 of 4 MCS Form FTB gr la I : KIND SIZE CONDI. USEFUL DEPRECIATED I CON. KIND OF DIMENSION TION REPLACE. LIFE REPLACEMENT YEAR CONTRIBUTORY KIND OF BUILDING STRUC. OF FOUN. OR AREA STOR. OF MENT REMAIN VALUE BUILT VALUE I! TION ROOF DA- PF GROUND IES BUILD. COST ING (Insurance TION FLOOR ING (yrs or %) Coverage) (1) (2) (31 (4) (51 (6) 17) (B) 19) 1101 (11) (12) A. DWELLINGS old Br M St 3460 2 Good $ 221340 69 $ 152722 $ liB. Freestall 66&96 Fr M Cone 6720 1 Good 107132 69 73921 II c. parlor/MH 1996 Fr M Cone 2880 1 Good 123841 75 92881 D. HeiferBrn 2000 Fr M Cone 2880 1 Good 31536 85 26806 I :. Silo old CS M Cone 20x60 1 Good 25000 25 6250 Silo old M M Cone 20x60 1 Good 70000 15 10500 II G. Silo old M M Cone 20x45 1 Good 50000 15 7500 H. Silo old CS M Cone 12x45 1 Fair 13000 15 1950 Iii II J. Mise Shed No Value K. L. 85% Il TOTALS 372530 316651 (ADD AN ATTACHMENT IF ADDITIONAL SPACE IS NEEDED TO DESCRIBE BUILDINGS) I II DATE SALE PRICE . ADJUSTMENT FACTORS ADJUSTED VALUE IDENTIFICATION TOTAL OF PER LOCA. BUILD- PER OF PROPERTY ACREAGE TOTAL LAND TIME OTHER TOT AL SALE ACRE TION INGS ACRE Il (1) (2) (3) (41 IS) (6) (7) (B) 191 (10) (11) (12) I! 8/99 A. Hors t 134 $ 500000 $ 3731 $ = $ +120 $ +1675 $ +156 $ = $ 5682 $ 642066 Pend B. Senseni 145.40 475000 3267 = +150 +1547 = 402 5366 606358 1110/99 c. Newswan 135.60 600000 4425 = +250 +628 +113 +450 5866 662858 5/01 D. Musser 119.89 685000 5714 = -100 +833 = = 6447 728511 II E. . INDICATE 1+1 OR 1-1 ADJUSTMENT IN DOLLAR AMOUNTS MARKET VALUE 6000 $ 678000 $ II INDICATE 101 OR (= ) IF NO SIGNIFICANT DIFFERENCE SEEATTACHMENT(S) 1922-9 FOR SUPPORTING DATA, DOCUMENTATION, AND COMMENTS I I COMMENTS ON ADEQUACY AND APPROPRIATENESS OF BUILDINGS TAKING INTO CONSIDERATION PLANS FOR BUILDING CONSTRUCTION OR REPAIR INCLUDING COST (ESTIMATED) I Buildings include an attractive brick sinqle familv dwelling with 4 bedrooms, 2 batbs, full I basement and coal BB heat. Dairy is a freestall facility with a total of 106 stalls and a double 6 herrinq bone style parlor. Parlor is expandable to double 8. Milk tank is 1500 qallons, There I are 4 upriqht silos and 1 bunker silo. Manure laqoon is clay lined with about 12 month capacity. . COMMENT ON CONDITION OF LAND TAKING INTO CONSIDERATION PLANS FOR LAND IMPROVEMENTS INCLUDING COST IESTIMATED) I Farm is a total of 113 acres with about 100 tillable. Balance of land is some pasture type land and buildinq site. Land is 89% tillable. Tillable soils include Haqerstown, Duffield and Huntinqton Series. Soils are limestone based with excellent productivity. Productivity is I estimated at .94 compared to the best county soils. Farm zoned Aqricultural and is also in Clean and Green. Property has qood public road frontaqe on 2 roads. A ar" n Assoc"ates FmHA 1922-1 (Rev. 6-931 MCS, a Division of ACI Development (BOO) 697-77B3 Page 2 of 4 MCS Form FTB Agrarian Associates II YIELD TOT AL PRODUCTION LANDLORD'S RETURN CROPS ACRES PER CASH AND/OR RENTAL SHARE PRICE GROSS ACRE AMOUNT PER UNIT VALUE RATE OR % VALUE (1) (2) (3) (4) (5) (6) (7a) (7b) Corn 100 127 12700 2.65 $ 33655 100 $ 33655 FARMSTEAD, DWELLING RENTAL CASH RENT House 900/mo 10800 100 10800 Dairy 15/st/mo 1590/mo 19080 100 19080 WOODLAND II WASTELAND, ROADS, ET PERMANENT PASTURE 8 60/yr TOT ALS 113 $ (8) DEDUCTIONS II REAL ESTATE TAXES AND ASSESSMENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . I I II I II I I II I I II I II $ INSURANCE COSTS ON BUILDINGS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . MAINTENANCE COSTS BUILDINGS, FENCES, WATER SUPPLY, TILE. . . . . . . . . . . . . . . . . . . . . . OPERATING AND MAINTENANCE COSTS FOR IRRIGATION AND DRAINAGE. . . . . . . . . . . . . . . . ANNUAL PAYMENTS ON BONDED DEBTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OTHER DEDUCTIONS (SEEDS, CROP INSURANCE, WATER CHARGES, FERTILIZER, LIME SPRAY. . MATERIAL, HAULING, HARVESTING, GINNING, AND MARKETING EXPENSES) Corn Expenses 157/Acre Pasture Expenses 30/Acre TOTAL DEDUCTIONS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29279 (9) NET FARM INCOME ............ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34736 (10) CAPIT ALlZA TION RATE 5.00 % (11) CAPITALIZATION VALUE PER ACRE ~148 694,720 ( 12) CAPITALIZATION RATE SELECTION COMPARABLE RATE COMMENTS A 5.40 % Similar Soils Lower % Till Inferior Buildin s B 6.60 % Sli htl Inferior Soils Lower % C 5.10 % Sli htl Inferior Soils Similar D 4.50 % Similar Soils Sli htl Inferior E % Buildin s FmHA 1922-' (Rev. 6-93) MCS. a Division of ACI Development (800) 697-7783 Page 3 of 4 MCS Form FTB Agrarian Associates I CROPLAND (2 100 3 DEPTH OF KIND OF VALUE TOPSOIL SUBSOIL TOPOGRAPHY PER ACRE TOTAL 4 (5 7 {8 8-10" SiltLoam $ 3300 $ 330000 10-12" SiltLoam 10-12' , SiltLoam 0-10" SiltLoam 6-8" SiltLoam 10-12" SiltLoam 0-3% 2000 16000 0-10" SiltLoam 3-8% II USE OF LAND ACRES SOIL DESCRIPTION TOTAL CROPLAND PERM. PASTURE 100 8 HuA HcB WOODLAND FARMSTEAD 5 HcB 0-10" SiltLoam 3-8% 3300 ROADS ETC. TOTALS 113 MARKET VALUE OF LAND CONTRIBUTORY VALUE OF BUILDINGS AS IMPROVED (OBTAIN TOTAL FROM PART 2. COLUMN 12). . . . . . . . . . . . . . . . . . SUMMATION VALUE OF FARM. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . .. (PER ACRE $ 6010 ) 16500 II VALUE DEFINITION - MOST PROBABLE PRICE IN TERMS OF MONEY WHICH A PROPERTY SHOULD BRING IN A COMPETITIVE AND OPEN MARKET UNDER ALL CONDITIONS REQUISITE TO A FAIR SALE, THE BUYER AND SELLER, EACH ACTING PRUDENTLY, KNOWLEDGEABLY, AND ASSUMING THE PRICE IS NOT AFFECTED BY UNDUE STIMULUS. I~ II I I j VALUE INDICATION - MARKET DATA (SALES COMPARISON) APPROACH ............. $ VALUE INDICATION - CAPITALIZATION (INCOME) APPROACH ..................... $ VALUE INDICATION - SUMMATION (COST) APPROACH. . . . . . . . . . . . . . . . . . . . . . . . .. $ MINERAL CONTRIBUTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ., $ 678,000 694,720 679,151 o RECOMMENDED MARKET VALUE (LAND AND MINERALS) ($ 6018 . PER ACRE) I $ 680,000 NOTE: The Recommended market Value includes the mineral contribution from Form FmHA 1922-11, If any. II : II II I i II I CERTIFY THAT, TO THE BEST OF MY KNOWLEDGE AND BELIEF: _ THE STATEMENTS OF FACT CONTAINED IN THIS REPORT ARE TRUE AND CORRECT. _ THE REPORTED ANALYSES, OPINIONS, AND CONCLUSIONS ARE LIMITED ONLY BY THE REPORTED ASSUMPTIONS AND LIMITING CONDITIONS, AND ARE MY PERSONAL, UNBIASED PROFESSIONAL ANALYSES, OPINIONS, AND CONCLUSIONS. _ I HAVE NO (OR THE SPECIFIED) PRESENT OR PRDSPECTIVE INTEREST IN THE PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AND I HAVE NO (OR THE SPECIFIED) PERSONAL INTEREST OR BIAS WITH RESPECT TO THE PARTIES INVOLVED. _ MY COMPENSATION IS NOT CONTINGENT ON AN ACTION OR EVENT RESULTING FROM THE ANALYSES, OPINIONS, OR CONCLUSIONS IN, OR THE USE OF, THIS REPORT. _ I ~ HAVE, D HAVE NOT, MADE A PERSONAL INSPECTION OF THE PROPERTY THAT IS THE SUBJECT OF THIS REPORT. (MARK APPROPRIATE ITEM). _ NO ONE PROVIDED SIGNIFICANT PROFESSIONAL ASSISTANCE TO THE PERSON SIGNING THIS REPORT. (IF THERE ARE EXCEPTIONS, THE NAME OF EACH INDIVIDUAL PROVIDING SIGNIFICANT PROFESSIONAL ASSISTANCE MUST BE STATED,) CONTINGENT AND LIMITING CONDITIONS STATEMENT: THE APPRAISER IS NOT QUALIFIED TO VERIFY OR DETECT THE PRESENCE OF HAZARDOUS SUBSTANCES BY VISUAL INSPECTION OR OTHERWISE, NOR QUALIFIED TO DETERMINE THE EFFECT, IF ANY, OF KNOWN OR UNKNOWN SUBSTANCES PRESENT. UNLESS OTHERWISE STATED ON THIS FORM OR AN ATTACHMENT HERETO, THE FINAL VALUE CONCLUSION IS BASED ON THE SUSBJECT REE OF H US WASTE CONTAMINATIONS, AND IT IS SPECIFICALLY ASSUMED THAT PRESENT SUBSEQUENT 0 UE DILIGENCE TO ENSURE T E PROPERTY DOES NOT BECOME OTHERWISE CONTAMINATED. DATE OF INSPECTION 1/2/02 EFFECTIVE DATE 6/19/01 (SIGNED) (TITLE) Appraiser THIS APPRAISAL CONTAINS ATTACHMENTS Addenda REVIEWED BY DATE FmHA 1922-1 IRev. 6-931 MCS, a Division of ACI Development (800) 697-7783 Page 4 of 4 MCS Form FTB II Owner I1fle_cj)cding Reference Date Most Recent Lehman 6 ".1:".1: 1955 II Previous PrevIous Previous Current Contract D Option D Listing Price II Buyer Contract Price Seller Closing Date Analysis / Comments: Farm has not been sold within the past three II for sale or under contract. Farm was recently transferred. accordance with the former owner's will. Pric~own unkn Terms of Sale own $ $ $ $ $ $ years. Farm is not currently listed This was a family transfer in II II II II II Environmental Problems Observed or Known To Appraiser. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. YES D NO D Analysis / Comments: Appraiser is not qualified to detect or evaluate environmental problems. II II II II II II II 'arm NOS MCS. a Division of ACI Development (8001 697-7783 Page Standard Rep~ . Estimate ID: Property Owner: Address: City: StatelProvince: ZIPlPostal Code: Surveyed By: Survey Date: Lehman 17013 Single-family Residence Effective Age: Cost as of: Style: Exterior Wall: Plumbing Fixtures: 30 September, 2001 Two Story Masonry, Common Brick 100% 8 Floor Area: Quality: Condition: 3,460 Square Feet 3 Average 3 Average Units Cost Total Base Cost 3,460 36.17 125,148 Plumbing Fixtures 8 824.92 6,599 Metal, Formed Seams 3,460 2.28 7,889 Raised Subfloor 3,460 5.38 18,615 Floor Cover Allowance 3,460 2.50 8,650 Baseboard, Hot Water 3,460 4.06 14,048 Plumbing Rough-ins 1 314.97 315 Single I-Story Fireplace 1 2,349.76 2,350 Appliance Allowance 1 2,299.77 2,300 Basic Structure Total Cost 3.460 53.73 185.914 Total Basement Area 1,650 10.96 18,084 Subtotal Basement 18.084 Attached Garage 950 14.02 13,319 Subtotal Garage 13 .319 Slab Porch with Roof 210 11.73 2,463 Enclosed Breezeway, Knee Walls wi Glass 48 32.49 1,560 Subtotal Extras 4.023 Replacement Cost New 3.460 63.97 221.340 Physical + Functional Depreciation 31.0% 68,618 Total Depreciated Cost 152.722 Total $152722 Cost data by Marshall & Swift, L.P. Marshall & Swift, L.P. Residential Xpress - Standard Estimate: 0 Date Printed: 1/8/02 Page I of I . . 01/08/2002 Summary Report Page: 1 Estimate Number Property Owner ZIP/Postal Code :0 : Lehman : 17013 Section 1 Occupancy 100% Freestall Barn Total Area Number of Stories (Section) Shape Components Barn & Dairy Equipment: Free-Stall, Floor Mounted Class Wood or steel framed exterior walls 6,720 1.00 2.00 Heie:ht 16.00 Rank 3.0 Units/% Other 106 Cost as of 10/2001 Basic Structure Base Cost Exterior Walls Basic Structure Cost Units/% Cost Total 6,720 9.99 67,133 6,720 4.10 27,552 6,720 14.09 94,685 1 12,447.00 12,447 6,720 15.94 107,132 31.0% 33,211 6,720 11.00 73,921 Extras Agricultural Replacement Cost New Less Depreciation Physical & Functional Depreciated Cost Cost Data by Marshall & Swift 01/08/2002 . . Page: 1 Property Owner ZIP/Postal Code Section 1 Occupancy 100% MilkHouse and Parlor Total Area Number of Stories (Section) Shape Components Barn & Dairy Equipment: Parlor Stall, Herringbone Cost as of 10/2001 Basic Structure Base Cost Exterior Walls Basic Structure Cost Extras Agricultural Replacement Cost New Less Depreciation Physical & Functional Depreciated Cost Summary Report : Lehman : 17013 Class Wood or steel framed exterior walls 2,880 1.00 2.00 Units/% Hei2ht 10.00 Other Rank 3.0 12 Units/% 2,880 2,880 2,880 Cost 24.18 10.13 34.31 Total 69,638 29,174 98,812 25,029 123,841 30,960 92,881 1 2,880 25,029.00 43.00 25.0% 2,880 32.25 Cost Data by Marshall & Swift 01/08/2002 . . Page: 1 Property Owner ZIP/Posta1 Code Section 1 Occupancy 100% Heifer/Dry Cow Barn Total Area Number of Stories (Section) Shape Cost as of 10/2001 Basic Structure Base Cost Exterior Walls Basic Structure Cost Less Depreciation Physical & Functional Depreciated Cost Summary Report : Lehman : 17013 Class Wood or steel framed exterior walls 2,880 1.00 2.00 Units/% 2,880 2,880 2,880 Cost 7.49 3.46 10.95 Heieht 16.00 Rank 2.0 Total 21,571 9,965 31,536 4,730 26,806 15.0% 2,880 9.31 Cost Data by Marshall & Swift . . Page 1 1. PURPOSE OF APPRAISAL AND DEFINITION OF VALUE: The purpose of this appraisal is to estimate the Fair Market Value for the subject property. Market value, as taken from the Dictionary of Real Estate Appraisal (AIREA) and used by the Office of the Comptroller of the Currency, is defined as the most probable price in terms of money that the property will bring in a competitive and open market under all conditions requisite to a fair sale, buyer and seller each acting prudently, knowledgeably, and assuming the price is not affected by undue stimuli. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: a. buyer and seller are typically motivated; b. both parties are well informed, are well advised, and each acting in what they consider their own best interest; c. a reasonable time is allowed for exposure on the open market; d. payment is made in cash or its equivalent; e. financing, if any, is on terms generally available in the community at a specified date and typical of the property type in its locale; f. the price represents a normal consideration for the property sold, unaffected by special financing amounts and/or terms, services, fees, costs, or credits accrued in the transaction. 2. SCOPE OF THE APPRAISAL The Client has requested that the appraisers develop and prepare a "Limited - Summary Appraisal Report" that is in compliance with the requirements of the Uniform Standards of Professional Appraisal Practice (USPAP). This appraisal has been prepared in a narrative format in conformance with the applicable standards. The values contained within this appraisal are subject to the Assumptions. Limiting Conditions and Certificate. as previously cited. A "Limited Appraisal Report" is defined within the Uniform Standards of Professional Appraisal Practice (USP AP) as presented below: . . Page 2 "The act or process of estimating value or an estimate of value performed under and resulting from invoking the Departure Provision. " This appraisal report is the result of a limited appraisal process in that certain allowable departures from the specific guidelines of the Uniform Standards of Professional Appraisal Practice (USP AP) were invoked. The intended user of this report is alerted that the reliability of the value conclusions provided herein, may be impacted to the degree there is departure from specific guidelines of the Uniform Standards of Professional Appraisal Practice (USPAP). Whereas, a "Summary Appraisal Report" is defined within the Uniform Standards of Professional Appraisal Practice as presented below: "A written report prepared under Standards Rule 2-2 (b) of a Complete or Limited Appraisal performed under Standard 1." Comment: The full extent of the process may not be apparent to the reader in the contents of the report. A Summary Appraisal Report, presents only compendious discussions of the data, reasoning, and analysis that were used in the appraisal process to develop the appraiser's opinion of value. Supporting documentation concerning the data, reasoning and analysis is retained in the appraiser's work file. The depth of discussion contained within this report is specific to the needs of the client and the intended use of the document. The appraisers are not responsible for unauthorized use of this report. 3. PROPERTY RIGHTS APPRAISED The scope of this valuation assignment requires that the appraiser consider the "Fee Simple Estate" in the subject property. A "Fee Simple Estate" is defined in the Dictionary of Real Estate Appraisal, third edition, published by the Appraisal Institute, as follows: "Absolute ownership unencumbered by an other interest or estate, subject only to the limitations imposed by the government powers of taxation, eminent domain, police power, and escheat. " The "Fee Simple Estate" is also subject to normal right-of-ways granted to governmental agencies and public utility companies for the placement and maintenance of utility distribution and drainage systems as well as other easements of record. . . Page 3 4. IDENTIFICATION OF SUBJECT PROPERTY: The subject property is located in West Pennsboro Township, Cumberland County. The property is identified by deed reference 249-2565 and tax parcel 46-07-0479-022. The property contains 113.00 acres with improvements. 5. TAXES: The subject has a current fair market assessed value of $666,100 and a Clean and Green value of $324,590. The farm is enrolled in Clean and Green. The current annual taxes are $3,638 based on a current millage rate of 11.207 mills for West Pennsboro Township. The owner is saving approximately $3,800 annually in the Clean and Green Program. 6. ZONING: The subject property is located in the Agricultural District of West Pennsboro Township, Cumberland County. The purpose of this zoning district is to preserve and maintain the township's valuable farmland by allowing less intensive development to occur within the designated zoning district's boundary lines. Permitted uses within the district include: Agriculture, horticulture, and forestry uses Farm units and accessory farm related structures Single family detached dwellings Farmer's markets and produce stands Churches and similar places of worship Cemeteries Public or semi private recreation areas, when operated not for profit Municipal buildings Necessary municipal and public utility structures Golf Courses and country clubs Grange halls and buildings for agriculturally oriented groups Accessory uses to the above uses Other uses are permitted as a conditional use. The minimum lot area for single family dwellings is two acres. The minimum lot area for animal agricultural operations is based on the number of animals. . . Page 4 Please refer to a copy of the ordinance in Appendix C. 7. ANALYSIS AND CONCLUSIONS: HIGHEST AND BEST USE A critical point of any valuation analysis is the determination of highest and best use of the property being appraised. Highest and Best Use is defined in the Dictionary of Real Estate Appraisal, third edition, published by the Appraisal Institute, as follows: "The reasonably probable and legal use of vacant land or an improved property, which is physically possible, appropriately supported, financially feasible, and that results in the highest value. The four criteria the highest and best use must meet and legal permissibility, physical possibility, financial feasibility, and maximum profitability. " In determining the highest and best use of a property, an appraiser takes into account and analyzes the following criteria: Legally Permissible - In all cases, an appraiser must determine what uses are legally permissible. Private restrictions, zoning, building codes, historic district controls and environmental regulations must be investigated because they may preclude many potential highest and best uses. Physically Possible - Physical characteristics of the site and improvements may affect the uses to which a property can be utilized. The utility of a parcel may depend on the site's frontage and depth and the improvements layout, design and utility. Financially Feasible - In determining which uses are physically possible and legally permissible, an appraiser eliminates some uses from consideration. Then, the uses that meet the first two criteria are analyzed further to determine which are likely to produce an income, or return, equal to or greater than the amount needed to satisfy operation expenses, financial obligations, and capital amortization. All uses that are expected to produce a positive return are financially feasible. Page 5 . . Maximally Productive - Of the financially feasible uses, the use that produces the highest price, or value, consistent with the rate of return warranted by the market for that use is the highest and best use. To determine the highest and best use of the property, the same rate of return is often used to capitalize income streams from different uses into their respective values. This procedure is appropriate if all competing uses have similar risk characteristics. The use that produces the highest value is the highest and best use. Highest and Best Use is analyzed in two parts. First, the property is considered to be vacant and available for development as of the valuation date. Then, the highest and best use of the property as improved and/or proposed to be improved is considered. It is to be recognized that in cases where a site has existing improvements on it, the highest and best use may very well be determined to be different from the existing use. The existing use will continue, however, unless and until land value in its highest and best use exceeds the total value of the property in its existing use. An interim use is an existing and relatively temporary use where the transition to highest and best use is deferred. A building or other improvement may have many years of remaining life yet may not enhance the value of the land that has a higher use, except as an interim-use improvement while the land is in transition. Highest and Best Use as Applies to Subject: After considering all the factors that would affect highest and best use including location, zoning, physical characteristics of the site and existing improvements, a determination has been made that the highest and best use of the subject property both as improved and vacant is continued agricultural use with the limited potential for the subdivision of residential lots. The subject is located in the Agricultural District of West Pennsboro Township. The legal restriction permits the current use of the property as a residence, dairy and crop farm as well as many alternate uses. The most common alternate land use in the area is residential uses. The zoning does not strictly limit the conversion of farm land to non-ag uses. The only limitation is the large minimum lot size of two acres. The farm has physical characteristics which would allow the potential subdivision of the property and potential non-agricultural uses. The farm has excellent public road frontage along 2 roads. The road frontage appears to be good quality with good sight lines and soils which most likely would be suitable for septic systems and construction. Numerous residential lots could be sold from the property without the time and expense of installing roads and other improvements. The subject farm does have agricultural improvements which influence the highest and best use of the property. The farm has a moderate sized dairy facility. This dairy generates the majority of the property income and has several remaining years of physical and economic life. The dairy requires a land base to provide feed for the cattle and for manure disposal. Page 6 Intensive fan. operations can often conflict with no.griCulturalland users. The dairy generates nuisances which many non-agricultural residents find objectionable. These nuisances include odors, noise, fertilizer and chemical applications, Flies and slow moving machinery on public roads. Although the subject has excellent public road frontage and the potential to subdivide numerous lots from the farm, this is a less feasible option for the farm with the improvements. If the owners subdivide lots from the farm, the owners of the lots could cause problems for the farming operation. The farm owners also risk the loss of the land base for feed production and manure disposal. The farm has excellent soils and a moderate to high percent tillable land. The farm land is valuable for continued agricultural use. The farm is also located in a strong agricultural area where premium prices are paid for land which remains in farming. Based on the above discussion, the highest and best use of the subject property is continued agricultural use with the potential for the subdivision of a few residential lots, both as vacant and as improved. There is a much greater potential for the subdivision of lots for the subject as vacant than as improved. 8. MARKET DATA APPROACH: Four comparable sales were used in this appraisal report. Allfour sales were in the subject market area. The adjusted values per acre ranged from $5,366 to $6,447. A value of $6,000 per acre was chosen for the subject property. 9. CAPITALIZATION APPROACH: The capitalization rate was estimated by developing a typical income and expense statement for various farming operations in the area. The Penn State Farm Management Handbook was used to determine the typical crop income and expense figures. Market data was used for the rental information. The capitalization rates for the comparables ranged from 4.50% to 6.60%. A rate of 5.00% was selected for the subject. 10. SUMMATION APPROACH: The soil information was obtained from the soil survey. Vacant land sales and farm sales with minimal building value were considered in determining the land value. The Marshall and Swift Valuation Program was used to calculate the replacement and depreciated replacement cost of the improvements of the subject or comparable sales with improvements. 11. MARKETING TIME: The subject is a modern freestall dairy farm with an automated and expanable parlor, attractive dwelling, excellent soils and high percent tillable land. The subject is located in a changing community where residential and part-time farming operations are encroaching on the once predominantly active farming community. The subject has above average improvements. Estimated marketing time is 6-12 months. Marketing time is estimated by speaking with brokers, auctioneers and parties involved with the comparable sales. . . Page 7 12. RECONCILIATION OF MARKET VALUE: The reconciliation of value was based upon the assumption that the Market Approach and Summation Approach was the best indication of value because it took into account the actions of buyers and sellers in the market place. The Summation Approach was applicable due to some recent improvements on the property and the use of the Marshall and Swift program. The Market Approach uses sales of competitive properties on the subject marketplace. When similar sales exist, this approach to value is most accurate since it involves the motivations of typical buyers and sellers. The Market and Summation approaches are interrelated and similar in most cases due to the high percentage of value placed on the land of farm properties. The Income Approach uses typical income and expense figures and capitalizes the net income to arrive at an indication of value. The final decision of value on this property is based on the Market and Summation Approaches, supported by the Income Approach. "Market Value As Is" June 19,2001 $680,000 DES LAW OFFICE PAl%: 132 el/e8/20~2 12:139 7172495755 , ,4~'1!-. . I 11 il !I :1 I: :i Ii .' II I I I I I ~ '.~. '.. ...; ,:.. ~,i.: r~ ~ s ..~; ~;;':i',;..".:;.! (iUU ~Ir( - Ph Parcel Number: t./~...o 7 -(J (j 77 -O,;l;J... '\EC S MADE THE One (2001). BETWEEN DENNIS R. LEHMAN and DAVID D. LEHMAN, Executors of the Estate of DONALD D. LEHMAN. late. of Cumberland County, Pennsylvania, Prl 3 31 JJ:i!.S...Qf.f. tJ? -tJ, day of ()~cern~r- In the year of our Lord Two Thousand I ., :' .1 II I! hereinafter Grantors >I ., ,I AND DOUGLAS B. LEHMAN and STACI B. LEHMAN, husband and wife, of 55 Kerrs Road, Carlisle, PA, tenants by the entirety; and DAVID D. LEHMAN and WENDY J. LEHMAN, husband and wife, of 30 Kerrs Road, Carlisle, PA, tenants by the entirety, .il hereinafter Grantees WITNESSETH, the said Donald D. Lehman, by his Last Will and Testament, duly proved and recorded in the Registe"'s office of Cumberland County, Pennsylvania, as Estate No. 21-01-0629. provided inter alia, as follows: FOUR: I nominate and appoint Dennis R. Lehman and David D. Lehman to be the Co- Executors of this my Last WUI and Testament. :,1 II ~~~;~~~~Na~~~:~:~ ~~TdN~~~;~~~,~~~t, t~~dS~dC~~:i~~;:tj~~ ~~~~: ~~~~f~~:r i I and 00/100 ($1.00) Dollars to it paid by the said Grantees. at and before the unsealing Ii and delivery of these presents, the receipt whereof is hereby acknowledged, have ill granted, bargained. sold and conveyed and do hereby grant, bargain, sell and convey to the said Grantees, their heirs and assigns forever, each tenant by the entirety to hold II a one-half (112) interest In thewhole. r ! ALL that oertain tract of land situate in the Township of West Pennsboro, County of Cumberland and State of Pennsylvania. more particularly bounded and described as follows: BEGINNING at a post at corner of lands of Margaret Ker Goodyear and Diller Lehman; thence along land of said Diller Lehman, North 61 degrees East 754 feet to a post on land. now or form.My of the A. G. Bear Estate; thence along same and land, now or formerly of W. S. Ker, North 85 degrees East 2350 feet to a pin: thence along land. now 'or formerly of W. $. Ker, formerly part of this tract, South 21 degrees 30 minutes East 200 feet to a pin; thence stili by land, now or formerly of W. S. Ker, formerly part of this , . "'~9 I 2......~ Cv";" ~t ..... .)v,", 0i(B8(20~2 12:09 n 72435755 oas LAW OFFICE PAIx. 03 1\ I, 'I .' . . II tract. North 72 degrees 30 minutes East 125 feet to a point in the middle of Legislative Route No. 21004; thence by the center of same South 23 degrees 30 minutes East 1001 feet to a point in the said road, at land. now or formerly of Frank Stuart: thence along lands now or formerly of the said Frank Stuart, South 62 degrees West 779 feet to a post; thence by the same, South 30 degrees 125 minutes East 99 feet to a post: thence still by the same, South 59 degrees 15 minutes West 973.50 feet to a point at center of the Township road; thence by the center of said road, North 34 degrees 30 minutes West 299.2 feet to a pOint; thence along lands. now or formerly of Frank Stuart. South 49 degrees 30 minutes West 928.8 feet to a pin at land of Margaret Ker Goodyear; thence by land of said Margaret Ker Goodyear, North 35 degrees West 2184 feet to a post, the place of BEGINNING. CONTAINING 114.48 acres, more or less. " :1 ,\ ,I I[ ~ I " ,I II II 1 II 1\ BEiNG the same premises which Alma Mae Lehman, by Deed dated 3/31/55 and being recorded in the Office of the Recorder of Deeds in and for Cumberland County, Pennsylvania, In Deed Book I, Vol. 16, Page 44. granted and conveyed unto Donald D. Lehman and Josephine S. Lehman. The said Josephine S. Lehman died whereby title became vested by law In her surviving spouse, Donald D. Lehman. The said Donald D. Lehman died 6/19/01, whereby title became vested by law in his estate. II I 'I i TOGETHER with all and singular. the tenements, hereditaments and appurtences to the same belonging, or in anywise appertaining, and the reversion and reverrsions, remainder and remainders, rents, issues and profits thereof; and also, all the estate, right, title, interest, property claim and demand whatsoever, both in law and equity, of the said Grantors, of, in to or out of the said premises, and every part and parcel \1 thereof. Ii II II l\ ,I il TO HAVE AND TO HOLD the said premises, with all and singular the appurtences, unto the said Grantees, their heirs and assigns, to and for the only proper use and behoof of the said Grantees, their heirs. aSSigns and successors forever. IN WITNESS WHEREOF, the said Grantors have hereunto set their hands and seals the day and year first above written. SIGNED, SEALED AND DELIVERED IN THE PRESENCE (SEAL) DENNIS R. L H N, Executor of the state of Donald D, Lehman bel'''' r. j' f' ' , ,..,. .....~, ~-f. ...ut...:..~.Il...b ~~ ,g). -~- DAVID D. LEHMAN, E><ecutor of the Estate of Donald D. Lehman (SEAL) 01/08/2002 12:09 COUNTY OF C~,.! C(f)~ On this, the 14-6 day of O.c.elYlJ:,~r ,2001, before me, the undersigned officer, personally appeared DENNIS R. LEHMAN known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he executed same for the purposes therein il ,~~In.d. ""~Wo!'l'!(1,~(, ,.,i? '/'Y: ' 'JtiJ!,. .. In witness hereof, I hereunto set my hand and official seal. (~' . ':: . :~iti~fr;i~l /J " .....,1;"ri~. ~'); ~4 ~~ >,~:' ',:~:~if:-~ l~{"~' ,,:::, .t., . ',r':" I', ;;{" 71 72435755 DES LAW OFFICE PAt%: 04 ;1 I i' I; . II I . . STATEOF pA 55. '.' STATE OF PENNSYLVANIA Notarill Seal ".. F. Unger. NOtary Pubio CIlIiII Baro. Cumberland ~ Mw 0-........ ElIplfes Oct. 7, 2004 ........~A5IiCCIlItlCJ1ctN(Un.. II II 58. 'I COUNTY OF CUMBERLAND On this, the , 6 day of Oece"."b,er , 2001, before me, the undersigned officer, personally appeared DAVID B. LEHMAN known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he executed same for the purposes therein contained. II II II : I ~ : ., V:'::;:~;;~'{ . ""'~"'.~'.. :~J...,'~t~~~q;or;:.,r::;}X~:,;~~'.' ," '. ~~. .. ,,,', In witness hereof, I hereunto set my hand and official seal. ~F~ Not.rIal S8al . AnQIIa " U~rl Notary Publlo CIIItIf ~ Cumbelland County ~ Commlsllon !:ll$llIU Oct. 7. 2004 CERTIFICATE OF RESIDEN~'F'Ir"~AaoclIIionctNolar1el II I I do hereby certify that the precise residence and complete post office address of the within named grantees is 55 Kerrs Road. Carlisle, PA. 17013 ~~cl Dee.. ~ ,2001. Attorney for 8DOK 24~ p,',Gi25G1 0:/08/20B2 12:09 7172495755 i !I I' I . COMMONWEALTH OF PENNSYLVANIA COUNTY OF CUMBERLAND OBS LAW OFFICE PAl%.: 05 . SS. ReCOrded on this day of A.D. 2001, in the Recorder's Office of Cumberland County, in Deed Book I Vol. I Page :, Given under my hand and the seal of the said office, the date above written. I, I :1 'I Ii il 'il il II II il i: Ii II I. i I T Certify tl,is to be recorded If!. CUJ':lbed~d C~unty PA ecor er . 0," ~,. ....... ~:.v.,.. " ." ", ....,,,~.-d ..J ,~ '.- " . 7" i7 ;:~'.' .", Recorder of Deeds O'Brien, hriG I. Scherer 17 W..t South S1reet C.o1iale. PennsylVllnill 17013 . . ;''i ~ " \ E "" ro Ii.. C ro E ..c: Q) H 0. ro :2: ~ ori o en . -l "\ ,.., (=1;~' '."" . . to, .. t or. f ~~ ~ ~ ::f ~ . ~~",,5 ~ It! E: ..c: OJ ~ .. . ....~ ~- ~ 0.. It! ~ >< It! E-< ,~ \.-~. ,~" ,'. ~'~ -r~' e. ";', .........~ ",'.. ""-~~ " ",,\ r- -~\ 8-' c<.. ::z:. r:;:C". -=--~ , \ \. I J; ::l. ,;"~' . ~" .t.;./ ~':~~;,7;\, r... - ..~ <.-. ., t::~~ ";:"'.~ :,,-~-~.; ,;~~.(;~ ~ ~ ... ::r- <' -:.L \.;LJ ( .....- ~<S ~\/ " , ,i 11 NATIONAl FLOOD INSURANCE PRO RAil fi- ~! ~ j, j' j FIRM FLOOD I.NSURANCE RATE MAP "i " tl ~ : II li ii ,. ;j 'i ~ 1 I TOWNSHIP OF WEST PENNSBORO, PENNSYLVANIA CUMBERLAND COUNTY , 1 PANEL 5 OF 15 ! I ; '~ / (SEE MAP INDEX FOR PANELS NOT PRINTED) t j ; , . t 1 ~ 1 ! '. j J \ , '. ; 1 " I ~ PANEL LOCATION I i ~ , COMMUNITY.PANEL NUMBER ' , I 1 421590 0005 A I . j I ,\ , j \ EFFECTIVE DATE: f I ; t j MARCH 4, 1988 I 1 t. 1 ; . J . I I ! I Federal Emergency Management Agency ~ I I . 1 ~ " . . \ ~ 1'T\ '2 '2 =JUi F I' II ~!I 0:1 1/ I i ("') 1'T\ '2 ..... 'jJ 'l> ,... /: l_n ........ JOINS PANEL 0010 ~ i I I I I I I I I I I I , l , , ~ J ] . . ARTICLE 4 AGRICUL11JRAL DISTRICr'(A) Section 401. INTENT. Consistent with the general purposes of this Zoning Ordin~nce, the Future Land Use Plan, and the goals and objectives of the West Pennsboro Township Comprehensive Plan, the specific intent of this ARTICLE is to preserve and maintain the Township's valuable fannland by allowing less intensive development to occur within the designated "A" boundary lines. Agricultural land is considered a non-replaceable resource within the Township, which, if lost, is not reclaimable once it is developed. Agricultural activities are an integral part of the culture and economy of West Pennsboro and are, therefore, deserving of preservation. Provisions within this Article should protect agricultural activities and retain the Township's rural character. -. Section 402. PERMITTED USES. In this district no building, fann unit plus accessory structures or land shall be used and no building shall be erected which is arranged, intended to be, or designed to be, used for other than one or more of the following approved uses: A.: Agricultural, horticulture, and forestry uses, including the raising, breeding, and grazing of animals provided that any lot intended to house livestock be a minimum of two (2) acres net lot area with a maximum of two (2) animals per acre. Additionally, any kennel, stable, pen or similar housing or storage of manure may not be located within the front yard setback or less than thirty feet (30') from any side or rear property line. B. Fann units and accessory fann-related structures. .. C. Single-family detached dwelling units. D. Fanners' markets and produce stands in accordance with ARTICLE 12, Section 1204. E. Churches or similar places of worship, including a parish house, manse, parsonage, or convent. F. Cemeteries. G. Public or semi-private recreation areas when not operated to gain or profit. H. Municipal buildings. I. Necessary municipal and public utility structures and buildings in accordance with ARTICLE 12, Section 1206. 4-1 . . J. Accessory uses on the same lot with, and customarily incidental to, any of the above permitted uses in accordance with ARTICLE 12, Section 1201. K. Grange halls and buildings for agricultural oriented groups. L Golf courses and country clubs. Section 403. CONDITIONAL USES. Conditional uses in this district may be allowed or denied by the governing body pursuant to public notice and hearing, after recommendations by the Planning Commission, pursuant to the express standards and criteria set forth in ARTICLE 12 in this ordinance, as follows: A -. B. C. Home occupations in accordance with regulations in ARTICLE 12, Section 1205. Agriculturally oriented commercial establishments such as farm implement dealers, feed mills' and similar businesses and support services in accordance with regulations in ARTICLE 12, Section 1213. Nursery, lawn and garden equipment and supplies sales and service in accordance with regulations in ARTICLE 12, Section 1213. D. Commercial Kennels -in accordance with regulations in ARTICLE 12, Section 1211. E. Camps or campgrounds in accordance with regulations in AR'IfCLE 12, Section 1210. ' F. G. H. I. Commercial Riding Stables in accordance with regulations in ARTICLE 12, Section 1212. j } ~ 1 Veterinary offices and animal hospitals or clinics and shall be in accordance with ARTICLE 7 - Lot Requirements, ARTICLE 14, Section 1401 and ARTICLE 15. Bed and breakfast establishments in accordance with ARTICLE 12, Section 1202. Storage of Materials and Equipment in accordance with ARTICLE 12, Section 1215. J. Public or private schools and related educational facilities. Section 404. BUILDING HEIGHT REGULATIONS. No building shall be erected to a height in excess of fifty (50) feet except for silos. 4-2 . . Section 405. LOT AREA AND WIDTH REGULATIONS. A. Minimum Lot Area shall be no less than two 2 acres. B. Minimum Lot Width at the minimum building setback line shall b~ no less than two hundred (200) feet. Section 406. LOT COVERAGE REGULATIONS. Principal buildings and accessory buildings or structures including building and impervious surface coverage shall not be more than twenty- five (25%) percent of the total lot. area. To the greatest extent possible, soils of Prime and Statewide significance, as defined and delineated by the USDA Soils Conservation Service, shall not be covered by structures or impervious materials. Section 407. YARD REGULATIONS. Yards of the following minimum depths and widths shall be provided. A. Minimum front yard depth shall be sixty (60) feet, as measured from the street right-of-way upon which it abuts. B. ' Minimum side yard width shall be thirty (30) feet. C. Minimum rear yard depth shall be fifty (50) feet from the rear property line. See ARTICLE 12, Section 1207, for other yard regUlations. Section 408. OFF-STREET PARKING REGULATIONS. Off-street parking shall b~ provided in accordance with the provisions of ARTICLE 15. Section 409. HIGHWAY (ROADWAY) ACCESS REGULATIONS. Regulations limiting access driveways for permitted uses shall be provided in accordance with provisions of ARTICLE 12, Section 1209. 4-3 II Agrarian Associates File No. CUMBERLA UNITED STATES DEPARTMENT OF AGRICULTURE FARMERS HOME ADMINISTRATION REAL ESTATE SALES DATA IDENTIFICATION OF PROPERTY ACRES (Use Sec.. Twn., Rne., when annlicable) OR LOTS 134 Acre Farm. North Newton Townshin 134 Amount Stated $ 500.000 II Deed: 205-406 Federal Stamos $ · Parcel: 30-09-0511-023 State Stamos $ TOTAL ACRES OR LOTS CONVEYED 134 Assumed Mortaaae $ II MINERAL RIGHTS 100% $/AC Water Riahts fxl Yes r No ACTUAL PRICE $ 500.000 ,I TERMS OF SALE Consideration Verified With lIen th Bu er Seller I. CONTRIBUTORY VALUE OF BUILDINGS AT TIME SOLD , . KIND SIZE CONDI- OF DIMENSION TION FOUN- OR AREA STOR- OF DA- PF GROUND IES BUILD- TION FLOOR ING (5) (6) (7) (8) St 1716 2 Good St 7776 2 Good Conc 6240 1 Fair Conc 1728 1 Fair Conc 608 1 Good strait 4 1 Fair (1) III A. * DWELLINGS II B. Bank Barn C. Freestall D. Loaf Area II E. MilkHouse F. Milk Eo TOTALS II * FACILITIES be Water r 1 Gas x Central Heat 1X1 Sentic Tank ,1 Sewer 1X1 Electricitv I............... ....>>............<..<<>.)..................................CONTr:UBtrtORY...tANOvAtOESBYMAr:U<ETAaSTaAC~rlON......}............................................... . USE OF LAND ACRES SOIL DESCRIPTION DEPTH OF KIND OF TOPOGRAPHY VALUE TOPSOIL SUBSOIL PER ACRE (4) (5) (6) (7) 10-12" SiltLoam 0-3% $ 2800 $ 10-12" SiltLoam 0-3% 8-10" SiltLoam 3-8% 6-10" SiltLoam 3-15% II Buyer \' Ervin and Etta Mae Horst I Seller Marv Dvarman Property commonly known as: I: II KIND OF BUILDING YEAR CON- KIND BUILT STRUC- OF TION ROOF (2) (3) (4) old Fr M old Fr M 1970 Fr M 1970s Fr M old CB M misc II (1 ) II CROPLAND (2) 110 HaA HuA HaB HcB. HcC II Date of Transfer 8/5/99 Ixl Deed (3) n Contract Town or Nearest Town Newville County Cumberland State Pennsvlvania CON- TRIBU TORY - VALUE (12) TOTAL (8) 308000 TOTAL CROPLAND Il PERM. PASTURE 110 21 HuA 10-12" SiltLoam 0-3% 1552 32590 HdD 4-6" SiltLoam 15-25% CONSIDERA TION RE- USEFUL PLACE- LIFE REPLACE- MENT REMAIN MENT COSTS ING VALUE (9) (10) (11) $ 98759 75% $ 74069 101710 30 30513 56597 52 29430 21376 39 8230 20471 44 9007 25000 40 10000 ,. WOODLAND II FARMSTEAD ROADS ETC. 3 HcB HcC 6-10" SiltLoam 3-15% 2800 8400 TOTAL 134 MARKET VALUE OF LAND $ 348.990 II COMMENTS: (Include any hazards, detriments or limiting conditions) Freestall dairy operation purchased by out of county buyer. Freestall barn was built in the early 70s and has 65 stalls. Parlor is a straiqht 4. House is an I older frame dwellinq with 3 bedrooms, 1 bath, full basement and oil heat. Bank barn and addition I used for dry cows and replacements. There are two stave silos. Farm does not have manure storaqe. Farm is 134 acres with 110 tillable (82%). Tillable soils are Haqerstown and Huntinqton I with excellent productivity. Soil productivity estimated at .96 compared to the best county II soils. Farm in North Newton Township which does not have a zoninq ordinance. Farm does not have any public road frontaqe. Land Value/Acre: 2604 Buildinq Value/Acre: 1127 Overall Value/Acre: 3731 I 'mHA 1922-9 IRev. 6-931 MCS. a Division of ACI Development (8001 697-7783 Page 1 of 2 MCS Form RSD Agranan Associates File No. CUMBERLA II II UNITED STATES DEPARTMENT OF AGRICULTURE FARMERS HOME ADMINISTRATION REAL ESTATE SALES DATA n Deed n Contract Town or Nearest Town Newville County Cumberland State Pennsvlvania Buyer . Horst - Buildinas Continued II Seller Date of Transfer Property commonly known as: I: IDENTIFICATION OF PROPERTY ACRES OR LOTS CONSIDERA TION (Use Sec., Twn., Rne., when annlieablel Amount Stated $ Federal Stamos $ State Stamns $ TOTAL ACRES OR LOTS CONVEYED Assumed MortQaoe $ II MINERAL RIGHTS % $/AC Water Riohts 11 Yes r 1 No ACTUAL PRICE $ II TERMS OF SALE Consideration Verified With I. I KIND SIZE CONDI- RE- USEFUL CON- YEAR CON- KIND OF DIMENSION TION PLACE- LIFE REPLACE- TRIBU BUILT STRUC- OF FOUN- OR AREA STOR- OF MENT REMAIN MENT TORY- TlON ROOF DA- OF GROUND IES BUILD- COSTS ING VALUE VALUE TION FLOOR ING (5) (6) (7) (8) I! II KIND OF BUILDING (1 ) II A. * DWELLINGS I B, Corn Shed C. Heifer Shed D. Silo II E. Silo I F. (2) (3) (4) (9) (10) ( 11) (12) $ % $ old Fr M St 672 1 Fair 5914 21 1272 1980s Pole M Cone 784 1 Good 6154 32 1938 1970s CS M Cone 20x60 1 Fair 23000 40 9200 1960s CS M Cone 15x60 1 Fair 16000 25 4000 85% TOTALS 177659 151010 I :...................................*.~~SI~I;,I~;<.~......'0~~CONTl{IS~~RYtANOVAt~~S~~Y!MA~K~~A~;X~AC+l~~.0~~....<)i...............E..J...~lectricitv DEPTH OF KIND OF VALUE TOPOGRAPHY TOPSOIL SUBSOIL PER ACRE (4) (5) (6) (7) USE OF LAND ACRES SOIL DESCRIPTION II (1) II CROPLAND (21 (3) TOTAL (8) $ $ II TOTAL CROPLAND I: PERM. PASTURE . WOODLAND II FARMSTEAD ROADS ETC. TOTAL II COMMENTS: (Include any hazards, detriments or limiting conditions) MARKET VALUE OF LAND $ II II I 'mHA 1 922.9 (Rev. 6.931 MCS, a Division of ACI Oevelopment (8001 697-7783 Page 1 of 2 MCS Form RSD Agrarian Associates YIELD TOTAL PRODUCTION LANDLORD'S RETURN CASH AND/OR RENTAL SHARE CROPS ACRES PER PRICE RA TE OR ACRE AMOUNT GROSS VALUE II PER UNIT VALUE PERCENT (1 ) (2) (3) (4) (5) (6) (7) (8) Corn 110 130 14300 2.65 $ 37895 100 $ 37895 FARMSTEAD, DWELLING RENTAL CASH RENT House 600/mo 7200 100 7200 Dairy 8/st/mo 520 6240 100 6240 WOODLAND II WASTELAND, ROADS, ET o PERMANENT PASTURE 21 60/yr TOTALS 134 $ II DEDUCTIONS REAL ESTATE TAXES AND ASSESSMENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $ II INSURANCE COSTS ON BUILDINGS. . . . . . . . . . . . . . . . . . . . . . . .'. . . . . . . . . . . . . . . . . . . . . . . MAINTENANCE COSTS BUILDINGS, FENCES, WATER SUPPLY, TILE. . . . . . . . . . . . . . . . . . . . . . . II OPERATING AND MAINTENANCE COSTS FOR IRRIGATION AND DRAINAGE. . . . . . . . . . . . . . . . . . ANNUAL PAYMENTS ON BONDED DEBTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . II OTHER DEDUCTIONS (SEEDS, CROP INSURANCE, WATER CHARGES, FERTILIZER, LIME SPRAY. . . MATERIAL, HAULING, HARVESTING, GINNING, AND MARKETING EXPENSES) II Corn Expenses 157/Acre Pasture EXPenses 30/Acre TOTAL DEDUCTIONS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25719 NET FARM INCOME. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26876 ACTUAL PRICE $ 500000 i CAPITALIZATION RATE FOR THIS COMPARABLE 5.40% II (NET FARM INCOME/ACTUAL PRICE = CAPITALIZATION RATE) 1HA 1922-9 IRev, 6-931 MCS. a Division of ACI Development 18001 697-7783 Page 2 of 2 MCS Form RSD . . Soil Map - Horst granan ssocla es File No. CUMBERLA II UNITED STATES DEPARTMENT OF AGRICULTURE FARMERS HOME ADMINISTRATION II REAL EST A TE SALES DATA Buyer Date of Transfer Town or Nearest Town Marvin Sensenia pendina Shinnensbura II Seller !xl Deed n Contract County Paul and Grace Hornbaker Cumberland Property commonly known as: State II pennsvlvania IDENTIFICATION OF PROPERTY ACRES CONSIDERA TION IUse Sec.. Two.. Rae.. when aoolicable) OR LOTS 145.40 Acre Farm, Southamoton Townshin 145.40 Amount Stated $ 475,000 II Deed: 29S-476 Federal Stamos $ II Parcel: 39-12-0320-001 State Stamos $ TOTAL ACRES OR LOTS CONVEYED 145.40 Assumed Mortaaae $ II MINERAL RIGHTS 100% $/AC Water Riahts Txl Yes T No ACTUAL PRICE $ 475,000 II TERMS OF SALE Consideration Verified With I: I CONTRIBUTORY VALUE OF BUILDINGS AT TIME SOLD II KIND SIZE CONDI- RE- USEFUL CON- CON- KIND OF DIMENSION TION PLACE- LIFE REPLACE- TRIBU YEAR II KIND OF BUILDING STRUC- OF FOUN- OR AREA STOR- OF MENT REMAIN MENT TORY- BUILT IoF GROUND TION ROOF DA- lES BUILD- COSTS ING VALUE VALUE TION FLOOR ING (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) II A. . DWELLINGS old Br M St 2421 2 Fair $ 144940 73% $ 104940 I B. Bank Barn old Fr M St 4704 2 Fair 69055 21 14502 C. Freestall 1970s Fr M Conc 8064 1 Fair 77011 48 36965 D. Parlor/MH 1970s CB M Conc 1176 1 Fair 37126 44 16335 II E. Hold Area 1970s Fr M Conc 2176 1 Fair 19715 21 4140 I F. Shed/Shon 1980s M M Conc 2880 1 Fair 25690 34 8735 TOTALS II . FACILITIES fx Water I] Gas x Central Heat fxl Sentic Tank 11 Sewer [x] Electricitv [q :=CONmRlsumoRYLANDVAtOESSYMAi::tKETASS-rRACllON> .... DEPTH OF KIND OF VALUE USE OF LAND ACRES SOIL DESCRIPTION TOPSOIL SUBSOIL TOPOGRAPHY PER ACRE TOTAL Il CROPLAND (1 ) (2) (3) (4) (5) (6) (7) (8) 120 HaB 8-10' , SiltLoam 3-8% $ 2150 $ 258000 DuB 8-10" SiltLoam 3-8% II HuA 10-12" SiltLoam 0-3% HaC 6-8" SiltLoam 8-15% TOT AL CROPLAND 120 II PERM. PASTURE 17 HcB 8-10" S il tLoam 3-8% 1357 23065 HcD 4-6" SiltLoam 15-25% WOODLAND 5 HdD, HdB 4-10" SiltLoam 3-25% 1000 5000 II FARMSTEAD 3 HcB HcC 6-10" SiltLoam 3-15% 2150 6450 ROADS ETC. TOTAL 145.40 MARKET VALUE OF LAND $ 292 515 II COMMENTS: (Include any hazards, detriments or limiting conditionsl pendinq sale of a freestall dairy operation. Buyer purchasinq farm sub;ect to an Aqricultural Conservation Easement. Property located alonq Britton Road in Southampton Township. Farm is a total of 145.40 acres with about 120 tillable (83%). II Tillable soils include Haqerstown, Duffield, Huntinqton Series with very qood productivity. Soil Productivity is estimated at . 92 compared to the best county soils. Road frontaqe totals about 4,400 linear feet. Buildinqs include brick dwellinq, bank barn, freestall dairy with 80 stalls, II double 5 parlor and other misc sheds. Milk tank not part of sale, stalls in poor shape at time of sale. Overall Value/Acre: 3267 Land Value/Acre: 2012 Buildinq Value/Acre: 1255 A A . t 'mHA 1922-9 (Rev. 6-931 MCS. a Division of ACI Development 1800) 697-7783 Page 1 of 2 MCS Farm RSD Agranan Associates File No. CUMBERLA II II UNITED STATES DEPARTMENT OF AGRICULTURE FARMERS HOME ADMINISTRATION REAL ESTATE SALES DATA n Deed n Contract Town or Nearest Town Shinnensbura County Cumberland State Pennsylvania Buyer I'. Sensenia II Seller Date of Transfer - Buildinas Continued Property commonly known as: I; IDENTIFICATION OF PROPERTY ACRES OR LOTS CONSIDERA TION (Use Sec., Two.. Roe., when anolicablel Amount Stated $ Federal Stamos $ State Stamos $ TOTAL ACRES OR LOTS CONVEYED Assumed Mortaaae $ II MINERAL RIGHTS % $/AC Water Rinhts I I Yes r No ACTUAL PRICE $ II TERMS OF SALE Consideration Verified With I. II KIND SIZE CONDI- RE- USEFUL CON- YEAR CON- KIND OF DIMENSION TION PLACE- LIFE REPLACE- TRIBU BUILT STRUC- OF FOUN- OR AREA STOR- OF MENT REMAIN MENT TORY- TION ROOF DA- OF GROUND IES BUILD- COSTS ING VALUE VALUE TION FLOOR ING (5) (6) (7) (8) I. II KIND OF BUILDING (1 ) I A. * DWELLINGS II B. Shed C. Silo 'I' D. Laaoon liE. '. F. (2) (3) (4) (9) (10) (11 ) (12) $ % $ old Pole 1970s CS 1980s C M M Dirt Cone Cone 1920 20x75 16x45 1 Good 1 Fair 1 Good 17856 30000 25000 34 35 50 6071 10500 12500 I :i. TOTALS * FACILITIES r Water r 1 Gas Central Heat I I Septic Tank r l Sewer ...............................................\><<.....>.........CONTRIBttrORY.tANO...VAlOESBVMARKst.ASSYRACtION?................................ DEPTH OF KIND OF TOPOGRAPHY TOPSOIL SUBSOIL (4) (5) 85% 214688 182485 r l Electricitv II (1 ) II CROPLAND (2) (3) (6) VALUE PER ACRE (7) TOTAL (8) USE OF LAND ACRES SOIL DESCRIPTION $ $ II TOTAL CROPLAND I: PERM. PASTURE WOODLAND II FARMSTEAD ROADS ETC. , TOTAL I ~ COMMENTS: (Include any hazards, detriments Dr limiting conditions I ! I Il MARKET VALUE OF LAND $ FmHA t 922-9 (Rev. 6-931 MCS, a Pivision of ACI Development (800) 697-7783 Page 1 of 2 MCS Form RSD Agrarian Associates TOT AL PRODUCTION LANDLORD'S RETURN YIELD CASH AND/OR RENTAL SHARE CROPS ACRES PER PRICE GROSS RA TE OR ACRE AMOUNT VALUE PER UNIT VALUE PERCENT (1 ) (2) (3) (4) (5) (6) (7) (B) Corn 120 124 14B80 2.65 $ 39432 100 $ 39432 FARMSTEAD, DWELLING RENTAL CASH RENT House 750/me 9000 100 9000 Dairy BOO/me 9600 100 9600 WOODLAND 5 o PERMANENT PASTURE 17 60/yr WASTELAND, ROADS, ET TOT ALS 145.40 $ DEDUCTIONS REAL ESTATE TAXES AND ASSESSMENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $ INSURANCE COSTS ON BUILDINGS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . MAINTENANCE COSTS BUILDINGS, FENCES, WATER SUPPLY, TILE. . . . . . . . . . . . . . . . . . . . . . . OPERATING AND MAINTENANCE COSTS FOR IRRIGATION AND DRAINAGE. . . , . . . . . . . . . . . . . . ANNUAL PAYMENTS ON BONDED DEBTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OTHER DEDUCTIONS (SEEDS, CROP INSURANCE, WATER CHARGES, FERTILIZER, LIME SPRAY. . . MATERIAL, HAULING, HARVESTING, GINNING, AND MARKETING EXPENSES) Corn Expenses 157/Acre Pasture Expenses 30/Acre TOTAL DEDUCTIONS. . . . . . . . . . . . . . . . . . , . . . . . . , . . . . . . . . . . . . . . . . . . . . . . . , . 277B3 NET FARM INCOME. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31269 ACTUAL PRICE $ 475000 CAPITALIZATION RATE FOR THIS COMPARABLE 6.60% (NET FARM INCOME/ACTUAL PRICE = CAPITALIZATION RATE) ,=mHA 1922-9 (Rev. 6-931 MCS, a Division of ACI Development 1800) 697-7783 Page 2 of 2 MCS Form RSD . . Soil Map - Sensenig Agrarian Associates File No. A907006B I UNITED STATES DEPARTMENT OF AGRICULTURE FARMERS HOME ADMINISTRATION REAL ESTATE SALES DATA !xl Deed n Contract Town or Nearest Town Carlisle County Cumberland State Pennsvlvania Buyer I Phares and Denise Newswanaer Seller Wayne and Carol Peffer Property commonly known as: Date of Transfer 10/29/99 IDENTIFICATION OF PROPERTY ACRES IUse Sec., Twn.. Rne., when annlicablel OR LOTS I 135.60 Acre farm. Dickinson Townshin 135.60 Amount Stated $ 600 000 Deed: 224-165 Federal Stamos $ Parcel: 08-10-0626-013 State Stamos $ TOTAL ACRES OR LOTS CONVEYED 135.60 Assumed Mortaaae $ I MINERAL RIGHTS 100% $/AC Water Riahts Gel Yes 1 No ACTUAL PRICE $ 600,000 TERMS OF SALE Consideration Verified With I I CONTRIBUTORY VALUE OF BUILDINGS AT TIME SOLD KIND SIZE CONDI- RE- USEFUL CON- YEAR CON- KIND OF DIMENSION TION PLACE- LIFE REPLACE- TRIBU BUILT STRUC- OF FOUN- OR AREA STOR- OF MENT REMAIN MENT TORY- TION ROOF DA- OF GROUND IES BUILD- COSTS ING VALUE VALUE TION FLOOR ING (5) (6) (7) (8) St 2264 2 Good $ Conc 11016 1 Good St 6240 2 Fair Conc 5184 1 Good Conc 2560 1 Good Conc 1288 1 Good CONSIDERA TlON KIND OF BUILDING (1 ) I A. * DWELLINGS B. Freestal1 C. Bank barn I D. Loaf Barn E. Shon/Shed F. parlor/MH TOTALS I * FACILITIES IX Water r 1 Gas x Central Heat 1X1 Seotic Tank 11 Sewer l:xl Electricitv CON1"fnaOlbRYtANOVAtllESSVMARKEtASSTftAC110N<>< USE OF LAND ACRES SOIL DESCRIPTION DEPTH OF KIND OF TOPOGRAPHY VALUE TOPSOIL SUBSOIL PER ACRE (4) (5) (61 (7) 8-io" SiltLoam 3-8% $ 2400 $ 6-8" SiltLoam 8-15% 10-12" SiltLoam 0-3% 6-8" SiltLoam 8-15% (4) (9) 140517 187602 83179 60393 26010 31801 (10) 75% $ 69 30 48 48 48 (11 ) 105388 129445 24954 28687 12485 15264 (12) (2) old 1980s old 1980s old 1980s (3) Fr/St M Fr M Fr M Fr M CB M Fr M (1 ) (2) 115 (3) HaB. DuB HcC. DuC HuA HaC TOTAL (8) 276000 CROPLAND TOTAL CROPLAND I PERM. PASTURE 115 17.60 HuA 10-12" SiltLoam 0-3% 1250 22000 HcD 4-6" SiltLoam 15-25% WOODLAND FARMSTEAD ROADS ETC. TOTAL 3 DuB HcC 135.60 6-10" SiltLoam 3-15% 2400 MARKET VALUE OF LAND $ 7200 305200 COMMENTS: (Include any hazards. detriments or limiting conditionsl Freesta11 dairy operation sold to Lebanon County Buyer. Farm sold subiect to an aqricu1tural conservation easement. Improvements include stone and frame dwe11inq, freesta11 dairy with double 4 parlor and misc out-bui1dinqs. Freestal1 barn has 115 stalls. There is also an earthen manure laqoon and 3 upriqht silos. Farm is total of 135.60 acres with 115 tillable (85%). Tillable soils include Haqerstown, Huntinqton and Duffield Series. Soil Productivity is very qood and estimated at .87 compared to the best county soils. Farm in Aq zoninq district of Dickinson Township. Land Value/Acre: 2251 Buildinq Value/Acre: 2174 Overall Value/Acre: 4425 FmHA 1922-9 (Rev. 6-931 MCS, a Division of ACI Development 1800) 697-7783 Page 1 of 2 MCS Form RSD granan SSO la es File No. A 0 B I UNITED STATES DEPARTMENT OF AGRICULTURE FARMERS HOME ADMINISTRATION I REAL ESTATE SALES DATA Buyer Date of Transfer Town or Nearest Town I Newswanoer - Buildinos Continued Carlisle Seller n Deed n Contract County Cumberland Property commonly known as: State I Pennsylvania IDENTIFICA TION OF PROPERTY ACRES CONSIDERA TION IUse Sec., Twp., Roe., when annlicablel OR LOTS I Amount Stated $ Federal Stamos $ State Stamos $ TOT AL ACRES OR LOTS CONVEYED Assumed Mortaaae $ I MINERAL RIGHTS % $/AC Water Rinhts I I Yes I No ACTUAL PRICE $ TERMS OF SALE Consideration Verified With I I CONTRIBUTORY VALUE OF BUILDINGS AT TIME SOLD KIND SIZE CONDI- USEFUL CON- RE- YEAR CON- KIND OF DIMENSION TION PLACE- LIFE REPLACE- TRIBU I KIND OF BUILDING BUILT STRUC- OF FOUN- OR AREA STOR- OF MENT REMAIN MENT TORY- TION ROOF DA- OF GROUND IES BUILD- COSTS ING VALUE VALUE TION FLOOR ING (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11 ) (12) I A. * DWELLINGS $ % $ B. Milk Eo 1980s Doub 4 Good 40000 40 16000 C. Silo 1980s CS M Cone 20x70 1 Fair 27000 25 6750 I D. Silo 1980s CS M Cone 20x60 1 Fair 23000 25 5750 E. Silo 1970s CS M Cone 14x45 1 Fair 14000 15 2100 F. 85% TOT ALS 346823 294800 I * FACILITIES T Water r 1 Gas Central Heat r l Seotic Tank 11 Sewer Il Electricitv CONTRISOmORYLANOVALOESSVMARKEtASSTFlAC'l10N<n USE OF LAND SOIL DESCRIPTION DEPTH OF KIND OF TOPOGRAPHY VALUE ACRES TOPSOIL SUBSOIL PER ACRE TOTAL I (1 ) (2) (3) (4) (5) (6) (7) (8) CROPLAND $ $ I I TOTAL CROPLAND PERM. PASTURE WOODLAND FARMSTEAD ROADS ETC. TOTAL MARKET VALUE OF LAND $ COMMENTS: (Include any hazards, detriments or limiting conditions) A A C. t FmHA 1922-9 IRev. 6-93) MCS, a Division of ACI Development (BOOI 697-77B3 Page' of 2 9070 6 MCS Form RSD Agrarian Associates TOT AL PRODUCTION LANDLORD'S RETURN YIELD CASH AND/OR RENTAL SHARE CROPS ACRES PER PRICE GROSS RATE OR ACRE AMOUNT VALUE PER UNIT VALUE PERCENT (1) (2) (3) (4) (5) (5) (7) (8) Corn 115 117 13455 2.65 $ 35656 100 $ 35656 FARMSTEAD, DWELLING RENTAL CASH RENT House 600/mo 7200 100 7200 Freestall 12/st/mo 16560 16560 100 16560 WOODLAND TOTALS 60/yr WASTELAND, ROADS, ET PERMANENT PASTURE $ DEDUCTIONS REAL ESTATE TAXES AND ASSESSMENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $ INSURANCE COSTS ON BUILDINGS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . MAINTENANCE COSTS BUILDINGS, FENCES, WATER SUPPLY, TILE. . . . . . . . . . . . . . . . . . . . . . . OPERATING AND MAINTENANCE COSTS FOR IRRIGATION AND DRAINAGE. . . . . . . . . . . . . . . . . . ANNUAL PAYMENTS ON BONDED DEBTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OTHER DEDUCTIONS (SEEDS, CROP INSURANCE, WATER CHARGES, FERTILIZER, LIME SPRAY. . . MATERIAL, HAULING, HARVESTING, GINNING, AND MARKETING EXPENSES) Corn Expenses 157/Acre Pasture Expenses 30/Acre TOTAL DEDUCTIONS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30004 NET FARM INCOME. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30468 ACTUAL PRICE $ 600000 CAPITALIZATION RATE FOR THIS COMPARABLE 5.10% INET FARM INCOME/ACTUAL PRICE = CAPIT AUZA TION RA TEl 'mHA 1922-9 IRev. 6-931 MCS. a Division of ACI Development 18001 697-7783 Page 2 of 2 MCS Form RSD . . Soil Map - Peffer Agrarian Associates File No CUMBERLA I UNITED STATES DEPARTMENT OF AGRICULTURE FARMERS HOME ADMINISTRATION I REAL ESTATE SALES DATA Buyer Date of Transfer Town or Nearest Town I Kerrv and Sharon Musser 5/9/01 Shinnensburq Seller n Contract County Rav and Ann Curtis IiJ Deed Cumberland Property commonly known as: State I Pennsvlvania IDENTIFICATION OF PROPERTY ACRES CONSIDERA TION IUse Sec., Two.. Roe., when annlieablel OR LOTS I 1.1.9.89 Acre Farm. Southamnton Townshin 1.1.9.89 Amount Stated $ 685.000 Deed: 244-41.6 Federal Stamos $ Parcel: 39-1.1.-0310-4A State Stamos $ TOTAL ACRES OR LOTS CONVEYED 1.1.9.89 Assumed Mortoaoe $ I MINERAL RIGHTS 100% $/AC Water Riohts Gel Yes I No ACTUAL PRICE $ 685.000 TERMS OF SALE Consideration Verified With I I CONTRIBUTORY VALUE OF BUILDINGS AT TIME SOLD KIND SIZE CONDI- RE- USEFUL CON- YEAR CON- KIND OF DIMENSION TlON PLACE- LIFE REPLACE- TRIBU I KIND OF BUILDING BUILT STRUC- OF FOUN- OR AREA STOR- OF MENT REMAIN MENT TORY- TlON ROOF DA- OF GROUND IES BUILD- COSTS ING VALUE VALUE TION FLOOR ING (1 ) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11 ) (12) I A. * DWELLINGS 1989 Fr Sh Conc 2408 2 Good $ 149937 85% $ 127446 B. Dairv Barn 1977 CB M Conc 3948 1 Good 100516 65 65335 C. Mi1kHouse 1977 CB M Conc 288 1 Good 1.1. 71. 6 60 7030 I D. Bank Barn old Fr M St 6400 2 Good 99648 21 20926 E. Loaf Barn old CB M Conc 3200 1 Fair 5171.2 21 10860 F. Mach Shed 1977 Fr M Conc 2100 1 Fair 18018 34 6126 85% TOT ALS 3Silo M M Conc Misc 1 Fair 160000 25 277723 236065 I * FACILITIES Ge Water r 1 Gas x Central Heat Gel Seotic Tank r 1 Sewer Gel Electricitv ......................................................................:,......{/...i.CONTl=tIStrrOl=ty.tANO...VAtUES. SYMAi=lKET ASSXRACtJON.................>............ ............................. USE OF LAND ACRES SOIL DESCRIPTION DEPTH OF KIND OF VALUE TOPSOIL SUBSOIL TOPOGRAPHY TOTAL I PER ACRE (1 ) (2) (3) (4) (5) (6) (7) (8) CROPLAND 1.1.6.89 HaB 8-10" SiltLoam 3-8% $ 3745 $ 437753 HcB 8-10' , SiltLoam 3-8% I HuA 10-12" SiltLoam 0-3% I TOTAL CROPLAND 1.1.6.89 PERM. PASTURE I WOODLAND FARMSTEAD ROADS ETC. 3 HaB 8-10" SiltLoam 3-8% 3727 11.1.82 TOTAL 1.1.9.89 MARKET VALUE OF LAND $ 448.935 I COMMENTS: (Include any hazards, detriments or limiting conditions) Dai:tY farm sold throuqh rea1 estate broker. Buver from Lancaster County. Farm is a total of 1.1.9.89 acres with all the land tillable except the buildinq I site. Til1.ab1e soi1s are Haqerstown and Huntinqton Series. Productivity is excellent and estimated at .96 compared to the best county soi1s. House built in 1989 and in ve:tY qood condition. Dai:tY built in late 1970s. Dai:tY has 52 tie-stalls and recent tunnel ventilation. Other bui1dinqs include bank barn, loafinq barn and misc sheds. There are 3 harvestore si1os. I 20x70, 20x60,& 20x30.Farm in Southampton Township which does not have zoninq. Farm in Clean&Green Overal1 Value/Acre: 571.3 Land Value/Acre: 3745 Buildinq Value/Acre: 1969 FmHA 1922-9 IRev. 6-931 MCS, a Division of ACt Developmen118001 697-7783 Page 1 of 2 MCS Form RSD Agrarian Associates TOT AL PRODUCTION LANDLORD'S RETURN YIELD CASH AND/OR RENTAL SHARE CROPS ACRES PER PRICE GROSS RATE OR ACRE AMOUNT VALUE PER UNIT VALUE PERCENT ( 11 (2) (3) (4) (5) (6) (7) (8) Corn 116.89 130 15196 2.65 $ 40269 100 $ 40269 FARMSTEAD, DWELLING RENTAL House 800/me 9600 100 9600 CASH RENT Dairy 700/me 8400 100 8400 WOODLAND TOT ALS $ WASTELAND, ROADS, ET PERMANENT PASTURE DEDUCTIONS REAL ESTATE TAXES AND ASSESSMENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $ INSURANCE COSTS ON BUILDINGS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . MAINTENANCE COSTS BUILDINGS, FENCES, WATER SUPPLY, TILE. . . . . . . . . . . . . . . . . . . . . . . OPERATING AND MAINTENANCE COSTS FOR IRRIGATION AND DRAINAGE. . . . . . . . . . . . . . . . . . ANNUAL PAYMENTS ON BONDED DEBTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OTHER DEDUCTIONS (SEEDS, CROP INSURANCE, WATER CHARGES, FERTILIZER, LIME SPRAY. . . MATERIAL, HAULING, HARVESTING, GINNING, AND MARKETING EXPENSES) Corn Expenses 157/Acre TOTAL DEDUCTIONS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27701 NET FARM INCOME. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30568 ACTUAL PRICE $ 685000 CAPITALIZATION RATE FOR THIS COMPARABLE 4.50% (NET FARM INCOME/ACTUAL PRICE = CAPITALIZATION RATE) mHA 1922-9 (Rev. 6-931 MCS, a Division of ACI Development (8001 697-7783 Page 2 of 2 MCS Form RSD . . HaS t ("J"- ',' \... HaS HcS .' .~~. '~~:'.~~, - . > ~'-''1t~.. . .....ll.> """"'7r<;57' ," "'<,. r Soil Map - Musser . . BRIAN D. PEDRICK IFAA FORMAL EDUCATION: The Pennsylvania State University, University Park, PA 16802. Received a Bachelor of Science degree in General Agriculture in 1982. National Association of Independent Fee Appraisers Inc. Principles of Farm, Ranch and Rural Appraising - 1996 Advanced Farm, Ranch and Rural Appraising - 1996 Capitalization Rates, Discount Rates and Ratios - 1996 Uniform Standards of Professional Appraisal Practice - 1997, 2000 Pennsylvania Real Estate Appraiser Law and Regulations - 2000 Litigation Valuation - 2001 Appraisal Institute Partial Interest Valuation - Undivided - 2000 Assessors I Association of Pennsylvania Fundamentals of Real Estate Appraisal - 1993 Site and Market Analysis - 1993 Cost Approach to Value - 1993 Income Approach to Value - 1993 Appraisal Standards and Ethics - 1995, 1997 Pennsylvania Real Estate Law and Regulations, 1999 Berks Real Estate Institute Real Estate Tax and Investment, 1998 Pennsylvania Realtors Institute Appraisal Standards and Ethics - 1993 Narrative Report Writing - 1993 Introduction to Commercial Appraisals - 1993 Institute of Real Estate Studies Real Estate Law - 1993 Real Estate Investment - 1995 Real Estate Finance - 1995 Residential Construction - 1996 Property Management - 1997 Lee and Grant Company Appraising Historic Properties - 1995 Environmental Hazards - 1995 Eminent Domain - 1995 Appraisal Standards and Ethics - 1995 McKissock Data Systems Real Estate Fraud - 2001 Expert Witness Testimony - 2001 Received credit for 21 undergraduate business courses from area universities, 1985-1988. . . PROFESSIONAL EXPERIENCE: Agrarian Associates, Inc.: President and Director of Appraisal Services, 1993 to present. Responsible for the administration of appraisal services for the south-central Pennsylvania area. Agrarian Associates Inc. is an appraisal company that specializes in Real Estate appraisal of agricultural properties, including Fair Market Values, Agricultural-Use Values, Property Tax Assessment Appeals and Conservation Easement Values. USDA Farmers Home Administration: 1983-1993. County Supervisor in Lancaster, Berks and Schuylkill Counties. Responsible for the administration of a variety of Agricultural and Residential loan and grant programs including all aspects of loan making and servicing. Duties included appraisals of farms, residential properties and chattels and providing management and technical advice to borrowers as well as the management of the county office. Caseload included 150 farm accounts and 600 housing accounts. Certification, Designations and Memberships: State Certified General Appraiser. General Certification # GA-001200-L. Senior Agricultural Designation - National Association of Independent Fee Appraisers (NAIFA). Member of the Assessors' Association of Pennsylvania (AAP). North Cornwall Township Agricultural Preservation Board Member Member of the Lebanon County & Pennsylvania Builders Association Past President, Mount Gretna Snowmobile Volunteers SAMPLE ASSIGNMENTS (Agrarian Associates Inc.): 2,500-sow farrow to feeder complex 600,000-bird layer operation 800-cow dairy facility 2,800-sow farrow through wean facilities Sew pig nurseries Wean through finish hog facilities 48-unit subsidized elderly housing complex 48-unit subsidized housing complex 100,000 bird/year feather bird complex (fly fishing lures) Over 40,000 Acres of Land for Agricultural and Conservation Easement Purposes ACCOMPLISHMENTS (FmHA): County Office of the Year, 1991. County Supervisor of the Year, 1989. Runner-up County Office of the Year, 1985. Most active office in Pennsylvania based on loan volume, 1991 and 1992. Only office in Pennsylvania to implement the Guaranteed Rural Housing Loan Program(l992). Among the lowest farm and housing program delinquencies in Pennsylvania. Eliminated 25 collection farm accounts while covering Berks/Schuylkill Counties. . . ACCOMPLISHMENTS (Agrarian Associates Inc.: Real Estate Appraisals of 150-250 agricultural properties per year. Approved appraiser by most of the agricultural lenders throughout central and south-central Pennsylvania. Counties serviced include; Adams, Bedford, Berks, Centre, Chester, Clinton, Columbia, Cumberland, Dauphin, Franklin, Fulton, Huntington, Juniata, Lackawanna, Lancaster, Lebanon, Lycoming, Mifflin, Monroe, Montgomery, Northumberland, Perry, Schuylkill, Snyder, Union, Wayne and York. OFFICE: Agrarian Associates, Inc. 243 South 8th Street, Suite 2 Lebanon, P A 17042 (717) 228-1510 - telephone (717) 228-1512 - fax agrarian@nbn.net - e-mail . . ~ I o o f-I N o o 1 t'i n ~ .... ::t. =:n n l>l ~ Z c:: g. ~ .... > t'Ij n 5l t:r:l ~ to .... ::;" ::t. ""Ct:x:l ., =:n 0 n . c:: -...J !a O~ O' . l>l n c:: f-I = t:x:l 0 0 \.0 0 CJ 0...., S \.0 l>l tTl >::""C S ~ ~ Z N....O 0\ 0 0 tTl ~ <r.g =:I ~ n ~I.O ~ p) ~ ~ :I: O' :4 g t""" '" l>l [ S ::; l'Nt:x:l ..... f!l. 3 (p::r trlN~ ., :> =:n ., '!!i =:I t:x:lO c: n ~p.""o 2.. ""0 !a ;l>z;l> ~ ""0 ~ 0 0 ~ ZOZ ~ :;0 o' = ~n""""(p 0:;00 t-< :> ""C n en =:I zri""C - -- ;l>.g S" =:I f-I '" en l>l .... tIl ~trl 0'\ i:l tTl '""""'" =-. ~ '< trlo ~ :;0 -...10 <" -~ rn~ N p. ~- p) ""C>-ln 0 =:I N;l> -. ;l>0~ 0 ~Sl p) -c: f-I -...1<: \0 ::;" ~trl '" N Y ~ trl w >< 0 'E. .... ~ N '" 0 0 w . . EPSUCHEOLIGE L. HOFFMAN FORMAL EDUCATION CORNELL UNIVERSITY, Ithaca, New YorK Received a Bachelor of Science degree in Animal Science with a Farm Business Management and Finance minor in 1995. - Dean's Ust Applicable Course WorK: Fundamentals of Real Estate Appraisal, Site and MarKet Analysis, Cost Approach to Value, Income Approach to Value, Farm and Rural Residential Appraisal, Uniform Standards of Professional Appraisal Practice, Farm Finance, Advanced Farm Finance, Farm Business Management, Advanced Farm Business Management, Estate Planning, '. PROFESSIONAL EXPERIENCE , AGRARIAN ASSOCIATES, INC., Lebanon, Pennsylvania 2000 - Present Appraisers Assistant . Assisting in"the appraisal of agricultural properties throughout Central Pennsylvania. Researching and gathering courthouse information on subject and comparable properties including checking zoning and deeds, verifying sales prices and conditions of sales. Assisting in preparation of appraisal reports by calculating soil productivity indexes, sketching deeds, visiting farms and collecting data, writing narratives, MEADOW GOLD DAIRY, Greeley, Colorado . 1997 -1999 Laboratory Technician Developed and maintained a product weight control program by utilizing statistical process controls, preventing the overfilling of containers and saving the company $2,000 weekly. Trained new employees on laboratory processes and procedures. Performed a full range of microbiological, chemical and physical evaluations of products. HCR REAL ESTATE, Hereford, Texas 1995 _ 1996 Appraiser Trainee / Realtor , Assisted in performed real estate appraisals using sales comparison approach. Presented real estate to prospective buyers and procured new listings. CORNELL UNIVERSITY, Ithaca, New YorK 1994 _ 1995 Dairy Fellow Involved in a two-year intensive study and application in dairy farm management and finance. Prepared farm consultant reports on topics such as dairy herd management, nutrition, herd health, crop management, and farm expansion and presented them to farm families. Farm Credit Fellow Collected and analyzed data on dairy farms within the Farm Credit's loan portfolio. Prepared loan analyses and recommehdations and presented them to Farm Credit. Presented consultant reports to dairy farmers. FARM CREDIT NCJ, Newton, New Jersey Summer 1994 Loan OffIcer Intern WorKed with a diverse loan portfolio, including dairy, greenhouse, and vegetable farms. Entered and analyzed credit data and projected cash flows. Wrote narratives, edited loan applications, and updated security agreements. Visited farm businesses and collected credit information. . . SSOCIATES, INC. APPRAISAL REPORT FOR LEHMAN GENERAL FARM tt LEHMANGENERALFA~ HOUSE FARMSTEAD tt LEHMANGENERALFARIt HOUSE - REAR BANK BARN . LEHMAN GENERAL FA. FIELDS FIELDS . LEHMAN GENERAL FA. FIELDS PASTURE AND FIELDS . . LOCATION MAP I,_N- /'; I "_''- ~~~ntl~iIIe ;r (~) \/ '--. / \ _)/ I) '<~ I "i"" \-? A~'9-:: ' ~/ ! I "'~-"l--/" \ I '\ A~-~/' ~ - , ' j \ ) \F " j/~ r1 ';~) y- ~ \ \..A /-' - ", ,..J , 0 L, 0' *') l? ( / '\-------', /' -!::::/ , 1 t\ !-1 .\ "~'.".J~/ _J' \< Y \, '---"---q-~s L!iJ, , rvlUe ~ E ,~ \ 1-/"1 \ '- ./ I \ ',-, c~1b- ~ '~ " - ro '-'---/ \ ~ b ~I I "" 1",-../ J (' ;rro (~ ..\ .-9,\ ~ (~) ~i ./ x~/" / ~~ . '(~ ~'i'. . ~~,~r~'\,C::Jr~'(VJ( ~~ ~~"t~~ f\7. ~{~rf-~~L\--?'~\VX-<2-0 / \~ ../ " Q/L, \ ~ j~j. ' T I / ~ / \.;- // \S:$ / t? ' ~\ \ ',<il';' ,-'-1---<" / '1:<:9. >.1>0- ,-< ~ f/ ' \-j)" :/ \" \ \ ,,,-__\ .. / 't yC.....'/"'-'4019 '::' ?=, ~'",---,S~'~EHMAN F'f;'-'----' ,\---~,)"),, /~~', ~' \,~ -J / ~ / 'S~ 't) '/ '0- ' / ",,, ~/ .. a:: .. '- / co '\~ &/ "'( c\I," \ lJ::I I \S~~-"~""/<<-o '-( .YF C- (<,,<~,-,_ // f B-6, :/~'O~'i.\s\~' ""y , l , ~o) 'y' &e~e~ / ci! 'I ~'-~~ ~) " -~\~--,-,//~l' ' - "Gtr:.~ \ \G). \ ',,,,,.-< \ ''{;;) \ '~ J 'tJ, -^, ~-) ;s."f .' \ ,-$''<J/,',,_ ~~x\ / ~' / , r< V\ I "- ,-' I \ \ , , ross ds \ \ \ \ \, \ \1; \ \~ ~J ci! I, /" \9 \!Q\ J!! - I Q \ 5- ( 10,.9: j'l_~ ) :1 ,% (C~-"Oi-C/ay Rd '?-B ',-<\ ,::.::: n:: ! r- " '0'O~- t:!., r..I ~ ~----.A {\s~ / C . \,?:/ E( "8<'9~:-- > ros./ , 'C', "v/fio"C/ \ c3-I -'-.. SCI) 1_/ "" ~C/'< ',-..,-&}o / I '__~~ount Rock R_~_J{' ~ \ '~G \-- \ \ /'\ -<. ) / -~..../ )- /,-----' , I'.. . / ',,- "----".>-- \ ( I -",,\ \ I \ / "" \ ,,', -Rich/and R h/ '. "~ cP I \...._\ ~ <:\ , {J \ 0'-1 ~ I Q) I C>" \, qy~ -V /J ~'<~~ \-c" (- I. -- '\, <9,,\, '----/~0" ./ ) 0-<<,' ') \,\l'(9 '-" , 1>0- " '~, \( , \ \ /\ \ // \, \ \ \, -, , \ \ \ \ (:-r~~ Omi 2 3 - Streets98 Copyright C 1988-1997, Microsoft Corporation and/or its suppliers, All rights reserved. Please visit our web site at hllp:/Imaps.expedia.com. Page 1 . . Real Estate Appraisal of Donald D. Lehman Estate Farm Newville Road Carlisle, PA 17013 Cumberland County, Pennsylvania 49.00 Acres Prepared For: O'Brien, Baric, and Scherer 17 West South Street Carlisle, PA 17013 Prepared By: Agrarian Associates Inc. 243 South 8th Street, Suite 2 Lebanon, P A 17042 Effective Date of Appraisal: June 19, 2001 Date Submitted: January 8, 2002 . . AGRARIAN ASSOCIATES INC. 243 South 8th Street, Suite 2 Lebanon, P A 17042 APPRAISAL REPORT I. Introduction . . APPRAISAL DIVISION BRIAN D. PEDRICK, IFAA State Certified General Appraiser License #GA -00 1200-L 243 S. 8th Street, Suite 2, Lebanon, PA 17042 (717) 228-1510 FAX: (717) 228-1512 e-mail: agrarian@nbn.net January 8, 2002 Mr. David Baric O'Brien, Baric and Scherer 17 West South Street Carlisle, PA 17013 Dear Mr. Baric: In accordance with your request for appraisal of the Donald D. Lehman Estate Farm located along Newville Road, West Pennsboro Township, Cumberland County, I have estimated the fair market value of the 49.00 acres and improvements to be as follows: As Is ***Two hundred and fifty thousand dollars*** $250,000 The interest being appraised is a fee simple estate. The effective date of appraisal is June 19, 2001, the date of Mr. Lehman's death. I have made a careful study of the property and all related data and information documented in the report. I have considered all appropriate approaches to value and have complied with the intent and purposes of the Uniform Standards of Professional Appraisal Practice (USP AP) and procedures and regulations pertaining to this Limited Summary appraisal. I trust that you will find this report complete and to your satisfaction. If you have questions, feel free to contact me any time. Brian D. rie IF AA State Certified General Appraiser SPECIALIZING IN CERTIFIED: FOR NON-BIASED: . Fair Market Values . Agricultural-Use Values . Conservation Easement Values . Marketing . Taxation Estate Planning . Settlements. . . CERTIFICATE OF APPRAISER: I certify that, to the best of my knowledge and belief. . . 1. This appraisal is in compliance with FIRREA, Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 and conforms to the Uniform Standards of Professional Appraisal Practice (USP AP) for a Limited Summary appraisal report. 2. The statements of fact contained in this report are true and correct; 3. The reported analyses, opinions and conclusions are limited only by the reported assumptions and limiting conditions and are my personal, unbiased analyses, opinions and conclusions; 4. I have no present or prospective interest in the property that is the subject of this report and I have no personal interest or bias with respect to the parties involved; 5. My compensation is not contingent on an action or event resulting from the analyses, opinions, or conclusions in, or the use of, this report; 6. My analyses, opinions and conclusions were developed, and this report has been prepared in conformity with the requirements of the Code of Professional Ethics and the Standards of Professional Practice of the National Association of Independent Fee Appraisers; 7. A personal inspection of the property was made and is reflected by the supporting data documented in this report; 8. Based on all elements that could reasonably affect the value of the Donald D. Lehman Estate Farm property and considering the Assumptions and Limiting Conditions contained herein, I have estimated the fee simple market value of the subject property, as of June 19, 2001, of: As Is *** Two hundred and fifty thousand dollars*** ~~o,ooo Brian D. Pedrick, IF AA State Certified General Appraiser License # GA-001200-L January 8, 2002 9".lMi ~t t. ~fI.-w. Epsucheolige . Hoffman Appraiser's Assistant January 8, 2002 . . STATEMENT OF LIMITING CONDITIONS THIS REPORT, INCLUDING THE CERTIFICATION CONTAINED HEREIN, IS MADE EXPRESSLY SUBJECT TO THE FOLLOWING LIMITING CONDITIONS: (1) The report is not an authorized copy unless it is signed in blue ink. (2) Possession of this report, or a copy thereof, does not imply the right of publication nor the right of use for any purpose by anyone other than the client to whom it is addressed, without the written consent of the appraiser. (3) Neither all nor any part of the contents of this report shall be conveyed to any person or entity, other than the appraiser's or firm's client, through advertising, solicitation materials, public relations, news, sales, or other media without the written consent and approval of the authors, particularly as to valuation conclusions, the identity of the appraiser or firm with which the appraiser is connected, or any reference to the appraiser's affiliation with any professional appraisal organization or designation. Further, the appraiser or firm assumes no obligation, liability, or accountability to any third party. If this report is placed in the hands of anyone but the client, client shall make such party aware of all the assumptions and limiting conditions of the assignment. (4) The use of this report is subject to the requirements of the National Association of Independent Fee Appraisers, as relating to review by their individual duly authorized representatives. Further, the disclosure of the contents of this report is governed by the By-Laws and Regulations of the National Association of Independent Fee Appraisers. (5) This report shall be used in whole and not in part. The loss or removal of any portion of the report invalidates the entire report. (6) The appraiser and/or firm, by reason of this report, shall not be required to give testimony or be in attendance in any court, administrative hearing or any conferences pertaining to such, unless proper notice, arrangements and compensation terms are made in advance. (7) The appraiser and/or firm by reason of this report, shall have no obligation to revise the conclusions presented herein in order to reflect events and/or conditions occurring subsequent to the date of valuation. (8) The appraiser and/or firm reserves the right to review, and revise if necessary, his judgments and conclusions on the basis of information withheld or not discovered in the normal course of diligent investigation. (9) The appraiser and/or firm has no responsibility for matters of a legal nature, questions of survey, opinions as to title, soil or sub-soil conditions, engineering or other technical matters. (10) The property is assumed to be free and clear of all liens, encumbrances and defects of title, except those specifically cited within this appraisal report. (11) Marketable title, competent management, responsible ownership and compliance with all governmental regulations and controls are assumed, unless specifically cited otherwise within this appraisal report. (12) The appraiser and/or firm assumes that all required licenses and/or permits, consents or other legislative or administrative authority from any local, state or national government or private entity or organization have been or can be obtained or renewed for any use on which the value estimate(s) contained within this report are based. This also assumes a timely manner without unusual cost. Unless otherwise specifically cited in this appraisal report. 11 . . STATEMENT OF LIMITING CONDITIONS (13) The appraiser and or firm assumes that there are no hidden or unapparent conditions of the property, sub- soil or structures which would render it more or less valuable than otherwise competitive/comparable property. The appraiser and or firm also assumes no responsibility for such conditions or engineering studies which might be required to discover such conditions. (14) Any sketches, maps or other exhibits prepared by the appraisers and illustrated within this report are included solely to aid the reader in visualizing the property and/or its location, and should not be construed as surveys or engineering drawings. (15) Each value estimate, finding, prediction, assumption or conclusion contained within this report is that of the appraiser's and is not to be considered as an assurance that an event will or will not occur. The value estimate is based upon appropriate research and applicable appraisal techniques; in that, by its nature, the appraisal of real estate is not an exact science, the end result is an opinion with which others may differ; the final estimate of value is not guaranteed and no warranty is implied or intended. (16) The current (effective date of appraisal) purchasing power of the U.S. dollar is the basis for the value estimate; no extreme fluctuations in economic cycles are anticipated. (17) Any allocation of value to the land and/or improvements contained within this report are based on the current program of utilization and are constituent parts of the total value reported. Neither allocation may be used in making a summation report by combining component values created by others. Either will be invalidated if so used. (18) If the property rights appraised herein relates to an estate that is less than the whole fee simple estate and is a fractional interest only, the value of the fractional interest plus the value of all other fractional interests mayor may not equal the value of the whole fee simple estate. (19) No consideration has been given to any furniture, trade fixtures, special equipment, personal property, the present worth of any business or enterprise and/or inventories that may be located on the subject property which are not normally considered part of the real estate. Any discussion of those items is for reference purposes only, and the appraiser and/or firm accepts no responsibility for the valuation of those items. (20) It is assumed that no ruins, artifacts or items of historical or archaeological significance have been discovered or exist on the subject property. (21) The Americans with Disabilities Act (ADA) became effective January 26, 1992. The appraiser has not made a specific compliance survey and analysis of the subject property to determine whether or not it is in conformity with the various detailed requirements of the ADA. It is possible that a compliance survey of the property together with a detailed analysis of the requirements of the ADA could reveal that the property is not in compliance with one or more of the requirements of this act. If so, this fact could have a negative effect upon the value of the property. Since the appraiser and/or firm has no direct evidence relating to this issue, they did not consider possible noncompliance with the requirements of ADA in estimating the value of the property. iii . . STATEMENT OF LIMITING CONDITIONS (22) Unless otherwise stated in this report, the existence of potentially hazardous substances, including without limitation asbestos, polycWorinated biphenyl, petroleum leakage, or agricultural chemicals, which mayor may not be present on the property, or other environmental conditions, were not called to the attention, nor did the appraiser and/or firm become aware of such conditions during their inspection. The appraiser and/or firm has no knowledge of the existence of such materials on or in the property unless otherwise stated. The appraiser and/or firm, however, is not qualified to test such substances, such as asbestos, urea formaldehyde foam insulation, or other hazardm,ls substances or environmental conditions, which may affect the value of the property. The value estimated is predicated on the assumption that there is no such condition on or in the property or in such proximity thereto that it would cause a loss in value. No responsibility is assumed for any such conditions, nor for any expertise or engineering knowledge required to discover them. (23) It is assumed that no waste dumping of disposal activities have occurred upon the subject property; that there are no underground storage tanks situated on the subject property; and no activities have occurred or conditions been maintained on adjacent lands which have resulted in the contamination of the surface water, ground water or soils at the subject property, unless otherwise stated in the report. Unless otherwise stated in the report. (24) If required, any environmental impact statement prepared for the subject property is assumed favorable and will receive approval from the appropriate regulatory bodies. (25) To the best of the appraiser's and/or firms knowledge and belief, the information furnished to the appraiser or firm, and the statements of fact contained in this appraisal report, and upon which the analyses, opinions, and conclusions are expressed herein are based, are true and correct, subject to a reasonable effort having been made to verify such information. (26) It is assumed by the appraisers, the proposed construction (if any) will be completed in a good workman like manner, in compliance with all applicable building codes and government regulations, and in a timely fashion. (27) Acceptance of and/or use of this appraisal report constitutes acceptance of the foregoing assumptions and limiting conditions along with any other assumptions and/or conditions cited within the body of the report. (28) It is assumed by the appraisers that the property, if improved is served by an adequate and potable water source and that any waste disposal systems such as septic systems are permitted and functioning properly. (29) This is a summary appraisal report which is intended to comply with the reporting requirements set forth under Standards Rule 2-2(b) of the Uniform Standards of Professional Appraisal Practice (USPAP). As such, this report presents only compendious discussions of the data, reasoning, and analysis that were used in the appraisal process to develop the appraiser's opinion of value. Supporting documentation concerning the data, reasoning and analysis is retained in the appraisers' work files. The depth of discussion contained within this report is specific to the needs of the client and the intended use of the document. The appraisers are not responsible for unauthorized use of this report. IV Agrarian Associates File No. A201008B UNITED STATES DEPARTMENT OF AGRICULTUR FARMERS HOME ADMINISTRATION APPRAISAL REPORT - FARM TRACT State Pennsylvania County Cumberland II Owner/ApplicantDonald Lelnnan Estate II *Legal Description and Number of Acres 49 Acre Fa:J:1Il, West Pennsboro Township Deed: 29Q-711 Parcel: 46-07-0479-010 *Purpose and Intended Use of Appraisal Estimate Fair Market Value For Estate Planninq Purposes II *Rights Appraised [iJ Fee Simple 0 Leasehold 0 Other *Highest and Best Use of Property Aqricultural *Extent of Process See Attachments II A. LOCATION NAME OF NEAREST TOWN Carlisle DIRECTION FROM TOWN. . . . . . . . . . . . . MILES FROM TOWN . . . . . . . . . . . . . . . . MILES FROM NEAREST SCHOOL MILES FROM NEAREST CHURCH Northwest @7 <5 N/A II II B. ROADS AND COMMUNITY CONDITION OF ROADS 0 E KIND OF FARM ROAD Gravel MILES TO NEAREST PUBLIC GRAVEL OR H-S ROAD 0 RIGHT OF WAY TO FARM [iJ YES 0 NO FARM DIST. CONDITION 0 E [iJ G 0 FOP TYPE OF FARMING IN COMMUNITY Dairy, Poul try, Genera [iJG OF Op II II C. FARM SERVICES [iJ R.F.D. [iJ PHONE [iJ POWER LINE MILES FROM ELEV. ~ GIN [iJ MILK ROUTE MKTG. FACIL. ~ II II D. COMMUNITY FACTORS FARM COMPARED WITH AVERAGE IN COMMUNITY AVERAGE BETTER POORER [iJ 0 0 [iJ 0 0 [iJ 0 0 [iJ 0 0 II LOCA TION DESIRABILITY SALABILITY RENT ABILITY II E. CONDITION OF LAND GENERAL FERTILITY [iJ E 0 G 0 FOP NOXIOUS None % WEEDS: Controlled % LAND NEEDS: DRAIN ~ AC LEVEL 0 AC CONTOUR 0 AC OTHER(SPECIFY) AC IRRIGATED *No AC NAME OF IRRIGATION DISTRICT Land Value/Acre: 3755 Buildinq Value/Acre: 1334 Productivity Index: .97 Percent Tillable: 82% II II II II * Attachments as needed 'mHA 1922-1 (Rev. 6-931 F. NATURAL RESOURCES * o MINERALS * o TIMBER o OTHER (SPECIFY) o OIL OR GAS o GRAVEL G. WATER * SOURCE .......... WELL DEPTH ....... FARMSTEAD FAMILY USE LIVESTOCK Well Well 80' 80' YES NO YES NO [iJ 0 [iJ 0 [iJ 0 [iJ 0 [iJ 0 [iJ 0 [iJ 0 [iJ 0 PASTURE AN CROPLAND CONVENIENT . . . . . . . ADEQUATE . . . . . . . . DEPENDABLE. . . . . . . QUALITY ACCEPTABLE YES NO D 0 D 0 D 0 D D H. HAZARDS, DETRIMENTS AND LIMITING CONDITIONS .. o IDENTIFIED HISTORICAL/ARCHAEOLOGICAL SITES o WETLAND * ACRES 0 UNDERGROUND STORAGE TANKS o CONSERVATION EASEMENT 0 ACRES 0 HAZARDOUS WASTES o MUDSLlDE AREA o HIGHLY ERODIBLE LAND See FSA ACRES o FLOOD PLAIN 0 ACRES o OTHER(SPECIFY) COMMENTS I. OWNERSHIP HISTORY DATE BOUGHT 1982 CHANGES: Minimal ACRES 49 DATE PRICE$ 1.00 COSTS $ COMMENTS J. TYPICAL RENTAL TERMS ANNUAL RENT $ SHARE CASH $ 40-80/Acre % PROD. QTY. K. TAXES ASSESSED VALUE $134240 C&G REAL EST. TAXES 192001 ASSES. RATE 100 % $134240 MIL LEVY 11.207 SPEC. IMPROVE. DIST. TAXES * $ 1504 C&G MCS. a Division of ACI Development 18001 697-7783 Page 1 of 4 MCS Form FTB Agrarian Associates : \ YEAR CONTRIBUTORY KIND OF BUILDING STRUC- OF FOUN- OR AREA STOR- OF MENT REMAIN VALUE BUILT VALUE Ii TION ROOF DA- OF GROUND IES BUILD- COST ING (Insurance I TION FLOOR ING (yrs or %1 Coveragel . (1 I (2) 131 141 151 161 171 181 191 (101 11' I 1121 A. DWELLINGS lB. Bank Barn c. MiscSheds old old old Br/St Fr M M St St 2232 6000 2 2 Fair $ Fair Poor 128143 91620 45 $ 57664 $ 21 19240 No Value I I D. E. II F I G. i H. II. J. K. L. TOTALS 76904 85% 65368 IADD AN ATTACHMENT IF ADDITIONAL SPACE IS NEEDED TO DESCRIBE BUILDINGSI I I II DATE SALE PRICE . ADJUSTMENT FACTORS ADJUSTED VALUE IDENTIFICATION TOT AL OF PER LOCA- BUILD- PER OF PROPERTY ACREAGE TOTAL LAND TIME OTHER TOTAL SALE ACRE TION INGS ACRE (11 121 (31 (4) (51 (61 (71 181 191 (101 (111 (121 I 4/98 A. Waggone 36.67 $ 242500 $ 6613 $ 12/99 B. Zimmenn 60.40 225000 3725 I 1/00 c. Nolt 63.54 300000 4721 111/99 D. Huber 44.71 290000 6486 I E. . INDICATE (+1 OR 1-1 ADJUSTMENT IN DOLLAR AMOUNTS = $ +250 $ -2103 $ +318 $ = $ 5078 $ 248822 +100 +1334 +186 = 5345 261905 = -200 -27 +168 4662 228438 = -100 -1826 +166 = 4726 231574 MARKET VALUE $ 5000 $ 245000 I INDICATE 101 OR 1= ) IF NO SIGNIFICANT DIFFERENCE I SEE ATTACHMENTISI 1922 - 9 FOR SUPPORTING DATA, DOCUMENTATION, AND COMMENTS I COMMENTS ON ADEQUACY AND APPROPRIATENESS OF BUILDINGS TAKING INTO CONSIDERATION PLANS FOR BUILDING CONSTRUCTION OR REPAIR INCLUDING COST (ESTIMATED) Buildinqs include a stone and bricksinqle family dwellinq with 3 bedrooms, 2 baths, oil hot water I heat and partial basement. There is a bank barn used to house dairy heifers and a few other misc sheds. Only house and barn considered to add value to the property. COMMENT ON CONDITION OF LAND TAKING INTO CONSIDERATION PLANS FOR LAND IMPROVEMENTS INCLUDING COST (ESTIMATED) I Fann is a total of 49 acres with about 40 tillable (82%). Tillable soils include Haqerstown and Huntinqton Series with excellent productivity. Soil Productivity is estimated at .97 compared to the best county soils. Fann located in the Aqricultural District of West Pennsboro Township, non I aq uses are not strictly requlated. Fann is enrolled in Clean and Green. FmHA '922-' IRev. 6-931 MCS, a Division of ACI Development (800) 697-7783 Page 2 of 4 MCS Form FTB Agrarian Associates II YIELD TOT AL PRODUCTION LANDLORD'S RETURN CROPS ACRES PER CASH AND/OR RENTAL SHARE AMOUNT PRICE GROSS ACRE PER UNIT VALUE RATE OR % VALUE (1) (2) (3) (4) (5) (6) (7a) (7b) Corn 40 132 5280 2.65 $ 13992 100 $ 13992 FARMSTEAD, DWELLING RENTAL CASH RENT 500/100 6000 House 150/me 1800 Barn WOODLAND II WASTELAND, ROADS, ET o PERMANENT PASTURE 60/yr TOTALS $ (8) DEDUCTIONS II REAL ESTATE TAXES AND ASSESSMENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ INSURANCE COSTS ON BUILDINGS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . II MAINTENANCE COSTS BUILDINGS, FENCES, WATER SUPPLY, TILE. . . . . . . . . . . . . . . . . . . . . . OPERATING AND MAINTENANCE COSTS FOR IRRIGATION AND DRAINAGE. . . . . . . . . . . . . . . . II ANNUAL PAYMENTS ON BONDED DEBTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . II OTHER DEDUCTIONS (SEEDS, CROP INSURANCE, WATER CHARGES, FERTILIZER, LIME SPRAY. . MATERIAL, HAULING, HARVESTING, GINNING, AND MARKETING EXPENSES) Corn Expenses 157/Acre II Pasture ExPenses 30/Acre II TOTAL DEDUCTIONS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (9) NET FARM INCOME . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (10) CAPITALIZATION RATE 4.50 % (11)CAPITALlZATIONVALUEPERACRE~840 100 6000 100 1800 10293 11859 CAPITALIZATION VALUE 263,533 Su erior Buildin s Soils Greater % Till Greater % Till Su erior Buildin s Greater % Till Su erior Buildin s % 'mHA 1922-' (Rev. 6-931 MCS. a Division of ACI Development (800) 697-7783 Page 3 of 4 MCS Form FTB Agrarian Associates II DEPTH OF KIND OF VALUE USE OF LAND ACRES SOIL DESCRIPTION TOPSOIL SUBSOIL TOPOGRAPHY PER ACRE TOTAL 2 (3 4 5 6 (7 8 CROPLAND 40 HuA 10-12' , SiltLoam 0-3% $ 4000 $ 160000 HaB 8-10' , SiltLoam 3-8% HaC 6-8' , SiltLoam 8-15% TOT AL CROPLAND 40 PERM. PASTURE 6 HaD 0-6" SiltLoam 15-25% 2000 12000 HdF 0-4" SiltLoam 15-45% WOODLAND FARMSTEAD 3 HaD 0-6" SiltLoam 15-25% 4000 ROADS ETC. TOTALS 49 MARKET VALUE OF LAND CONTRIBUTORY VALUE OF BUILDINGS AS IMPROVED (OBTAIN TOTAL FROM PART 2. COLUMN 12). . . . . . . . . . . . . . . . . . SUMMATION VALUE OF FARM. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. (PER ACRE $ 5089 ) 12000 II VALUE DEFINITION - MOST PROBABLE PRICE IN TERMS OF MONEY WHICH A PROPERTY SHOULD BRING IN A COMPETITIVE AND OPEN MARKET UNDER ALL CONDITIONS REQUISITE TO A FAIR SALE, THE BUYER AND SELLER, EACH ACTING PRUDENTLY, KNOWLEDGEABLY, AND ASSUMING THE PRICE IS NOT AFFECTED BY UNDUE STIMULUS. II VALUE INDICATION - MARKET DATA (SALES COMPARISON) APPROACH ............. $ V ALUE INDICATION - CAPIT AUZA TION (INCOME) APPROACH ..................... $ VALUE INDICATION - SUMMATION (COST) APPROACH. . . . . . . . . . . . . . . . . . . . . . . . .. $ MINERAL CONTRIBUTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $ 245,000 263,533 249,368 o II RECOMMENDED MARKET VALUE (LAND AND MINERALS) ($ 5102 PER ACRE) I $250,000 NOTE: The Recommended market Value includes the mineral contribution from Form FmHA 1922.11, if any. SEE ATTACHMENTS Addenda FOR SUPPORTING DATA, DOCUMENTATION AND COMMENTS II II I CERTIFY THAT, TO THE BEST OF MY KNOWLEDGE AND BELIEF: - THE STATEMENTS OF FACT CONTAINED IN THIS REPORT ARE TRUE AND CORRECT. _ THE REPORTED ANALYSES. OPINIONS. AND CONCLUSIONS ARE LIMITED ONLY BY THE REPORTED ASSUMPTIONS AND LIMITING CONDITIONS, AND ARE MY PERSONAL, UNBIASED PROFESSIONAL ANALYSES, OPINIONS, AND CONCLUSIONS. _ I HAVE NO (OR THE SPECIFIED) PRESENT OR PROSPECTIVE INTEREST IN THE PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AND I HAVE NO lOR THE SPECIFIED) PERSONAL INTEREST OR BIAS WITH RESPECT TO THE PARTIES INVOLVED. _ MY COMPENSATION IS NOT CONTINGENT ON AN ACTION OR EVENT RESULTING FROM THE ANALYSES, OPINIONS, OR CONCLUSIONS IN, OR THE USE OF, THIS REPORT. - I ~ HAVE, D HAVE NOT, MADE A PERSONAL INSPECTION OF THE PROPERTY THAT IS THE SUBJECT OF THIS REPORT. (MARK APPROPRIATE ITEMI. - NO ONE PROVIDED SIGNIFICANT PROFESSIONAL ASSISTANCE TO THE PERSON SIGNING THIS REPORT. (IF THERE ARE EXCEPTIONS, THE NAME OF EACH INDIVIDUAL PROVIDING SIGNIFICANT PROFESSIONAL ASSISTANCE MUST BE STATED.) II II CONTINGENT AND LIMITING CONDITIONS STATEMENT: THE APPRAISER IS NOT QUALIFIED TO VERIFY OR DETECT THE PRESENCE OF HAZARDOUS SUBSTANCES BY VISUAL INSPECTION OR OTHERWISE, NOR QUALIFIED TO DETERMINE THE EFFECT, IF ANY, OF KNOWN OR UN . UNLESS OTHERWISE STATED ON THIS FORM OR AN ATTACHMENT HERETO, THE FINAL VALUE CONCLUSION I E SU OPERTY BEING FREE HAZARDOUS WASTE CONTAMINATIONS, AND IT IS SPECIFICALLY ASSUMED THAT PRESENT SUBSE ERSHIPS WILL EXERCISE 0 DILIGENCE SURE THAT THE PROPERTY DOES NOT BECOME OTHERWISE CONTAMINATED. I I II I II DATE OF INSPECTION 1/2/02 EFFECTIVE DATE 6/19/01 (SIGNED) (TITLE) Appraiser THIS APPRAISAL CONTAINS ATTACHMENTS Addenda REVIEWED BY DATE FmHA 1922-1 IRev.6-93) MCS, a Division of ACI Development 18001 697-7783 Page 4 of 4 MCS Form FTB II Owner Most Recent Lehman II Previous PrevIous Previous Current Contract D Option D Listing Price II Buyer Contract Price Seller Closing Date Analysis / Comments: Farm has not been sold or transferred within currently listed for sale or under contract. II 2 9~<<:Gff:!J~ng Reference 19 s:.fate Price Pai~. 00 kn Terms of Sale un own $ $ $ $ $ $ the past three years. Farm is not II II II II II Environmental Problems Observed or Known To Appraiser. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. YES D NO D Analysis / Comments: Appraiser is not qualified to detect or evaluate environmental problems. II MCS. a Oivision of Acf Development (8001 697-7783 Page Standard Repo4lt . Estimate ID: Property Owner: Address: City: State/Province: ZIP/Postal Code: Surveyed By: Survey Date: Lehman 17013 Single-family Residence Effective Age: Cost as of: Style: Exterior Wall: Plumbing Fixtures: 40 September, 2001 Two Story Masonry, Common Brick 50% Masonry, Stone on Block 50% 6 Floor Area: Quality: Condition: 2,232 Square Feet 2 Fair 2 Badly Wom Units Cost Total Base Cost 2,232 37.23 83,097 Plumbing Fixtures 6 669.93 4,020 Metal, Formed Seams 2,232 2.10 4,687 Raised Subfloor 2,232 4.80 10,714 Floor Cover Allowance 2,232 1.76 3,928 Baseboard, Hot Water 2,232 4.22 9,419 Plumbing Rough-ins 1 284.97 285 Appliance Allowance 1 1,774.82 1,775 Basic Structure Total Cost 2.232 52.83 117.925 Total Basement Area 560 13.67 7,655 Subtotal Basement 7.655 Slab Porch with Roof 245 10.46 2,563 Subtotal Extras 2.563 Replacement Cost New 2.232 57.41 128.143 Physical + Functional Depreciation 55.0% 70,478 Total Depreciated Cost 57.665 Total $57.665 Cost data by Marshall & Swift, L.P. Marshall & Swift, L.P. Residential Xpress - Standard Estimate: 0 Date Printed: 1/8/02 Page 1 of 1 01/08/2002 . . Page: 1 Property Owner ZIP/Postal Code Section 1 Occupancy 100% Barn, General Purpose Total Area Number of Stories (Section) Shape Cost as of 10/2001 Basic Structure Base Cost Exterior Walls Basic Structure Cost Less Depreciation Physical & Functional Depreciated Cost Summary Report : Lehman : 17013 Class Wood or steel framed exterior walls 6,000 2.00 2.00 Units/% 6,000 6,000. 6,000 Cost 9.03 6.24 15.27 Hei2ht 10.00 Rank 2.0 Total 54,180 37,440 91,620 72,380 19,240 79.0% 6,000 3.21 Cost Data by Marshall & Swift . . Page 1 1. PURPOSE OF APPRAISAL AND DEFINITION OF VALUE: The purpose of this appraisal is to estimate the Fair Market Value for the subject property. Market value, as taken from the Dictionary of Real Estate Appraisal (AIREA) and used by the Office of the Comptroller of the Currency, is defined as the most probable price in terms of money that the property will bring in a competitive and open market under all conditions requisite to a fair sale, buyer and seller each acting prudently, knowledgeably, and assuming the price is not affected by undue stimuli. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: a. buyer and seller are typically motivated; b. both parties are well informed, are well advised, and each acting in what they consider their own best interest; c. a reasonable time is allowed for exposure on the open market; d. payment is made in cash or its equivalent; e. financing, if any, is on terms generally available in the community at a specified date and typical of the property type in its locale; f. the price represents a normal consideration for the property sold, unaffected by special financing amounts and/or terms, services, fees, costs, or credits accrued in the transaction. 2. SCOPE OF THE APPRAISAL The Client has requested that the appraisers develop and prepare a "Limited - Summary Appraisal Report" that is in compliance with the requirements of the Uniform Standards of Professional Appraisal Practice (USPAP). This appraisal has been prepared in a narrative format in conformance with the applicable standards. The values contained within this appraisal are subject to the Assumptions. Limiting Conditions and Certificate. as previously cited. A "Limited Appraisal Report" is defmed within the Uniform Standards of Professional Appraisal Practice (USP AP) as presented below: . . Page 2 "The act or process of estimating value or an estimate of value performed under and resulting from invoking the Departure Provision. " This appraisal report is the result of a limited appraisal process in that certain allowable departures from the specific guidelines of the Uniform Standards of Professional Appraisal Practice (US PAP) were invoked. The intended user of this report is alerted that the reliability of the value conclusions provided herein, may be impacted to the degree there is departure from specific guidelines of the Uniform Standards of Professional Appraisal Practice (USP AP). Whereas, a "Summary Appraisal Report" is defined within the Uniform Standards of Professional Appraisal Practice as presented below: "A written report prepared under Standards Rule 2-2 (b) of a Complete or Limited Appraisal performed under Standard 1." Comment: The full extent of the process may not be apparent to the reader in the contents of the report. A Summary Appraisal Report, presents only compendious discussions of the data, reasoning, and analysis that were used in the appraisal process to develop the appraiser's opinion of value. Supporting documentation concerning the data, reasoning and analysis is retained in the appraiser's work file. The depth of discussion contained within this report is specific to the needs of the client and the intended use of the document. The appraisers are not responsible for unauthorized use of this report. 3. PROPERTY RIGHTS APPRAISED The scope of this valuation assignment requires that the appraiser consider the "Fee Simple Estate" in the subject property. A "Fee Simple Estate" is defined in the Dictionary of Real Estate Appraisal, third edition, published by the Appraisal Institute, as follows: "Absolute ownership unencumbered by an other interest or estate, subject only to the limitations imposed by the government powers of taxation, eminent domain, police power, and escheat. " The "Fee Simple Estate" is also subject to normal right-of-ways granted to governmental agencies and public utility companies for the placement and maintenance of utility distribution and drainage systems as well as other easements of record. . . Page 3 4. IDENTIFICATION OF SUBJECT PROPERTY: The subject property is located in West Pennsboro Township, Cumberland County. The property is identified by deed reference 29Q-711 and tax parcel 46-07-0479-010. The property contains 49.00 acres with improvements. 5. TAXES: The subject has a current fair market assessed value of $302,540 and a Clean and Green value of $134,240. The farm is enrolled in Clean and Green. The current annual taxes are $1,504 based on a current millage rate of 11. 207 mills for West Pennsboro Township. The owner is saving approximately $1,900 annually in the Clean and Green. 6. ZONING: The subject property is located in the Agricultural District of West Pennsboro Township, Cumberland County. The purpose of this zoning district is to preserve and maintain the township's valuable farmland by allowing less intensive development to occur within the designated zoning district's boundary lines. Permitted uses within the district include: Agriculture, horticulture, and forestry uses Farm units and accessory farm related structures Single family detached dwellings Farmer's markets and produce stands Churches and similar places of worship Cemeteries Public or semi private recreation areas, when operated not for profit Municipal buildings Necessary municipal and public utility structures Golf Courses and country clubs Grange halls and buildings for agriculturally oriented groups Accessory uses to the above uses Other uses are permitted as a conditional use. The minimum lot area for single family dwellings is two acres. The minimum lot area for animal agricultural operations is based on the number of animals. . . Page 4 Please refer to a copy of the ordinance in Appendix C. 7. ANALYSIS AND CONCLUSIONS: HIGHEST AND BEST USE A critical point of any valuation analysis is the determination of highest and best use of the property being appraised. Highest and Best Use is defined in the Dictionary of Real Estate Appraisal, third edition, published by the Appraisal Institute, as follows: "The reasonably probable and legal use of vacant land or an improved property, which is physically possible, appropriately supported, financially feasible, and that results in the highest value. The four criteria the highest and best use must meet and legal permissibility, physical possibility, financial feasibility, and maximum profitability. " In determining the highest and best use of a property, an appraiser takes into account and analyzes the following criteria: Legally Permissible - In all cases, an appraiser must determine what uses are legally permissible. Private restrictions, zoning, building codes, historic district controls and environmental regulations must be investigated because they may preclude many potential highest and best uses. Physically Possible - Physical characteristics of the site and improvements may affect the uses to which a property can be utilized. The utility of a parcel may depend on the site's frontage and depth and the improvements layout, design and utility. Financially Feasible - In determining which uses are physically possible and legally permissible, an appraiser eliminates some uses from consideration. Then, the uses that meet the first two criteria are analyzed further to determine which are likely to produce an income, or return, equal to or greater than the amount needed to satisfy operation expenses, financial obligations, and capital amortization. All uses that are expected to produce a positive return are financially feasible. Page 5 . . Maximally Productive - Of the financially feasible uses, the use that produces the highest price, or value, consistent with the rate of return warranted by the market for that use is the highest and best use. To determine the highest and best use of the property, the same rate of return is often used to capitalize income streams from different uses into their respective values. This procedure is appropriate if all competing uses have similar risk characteristics. The use that produces the highest value is the highest and best use. Highest and Best Use is analyzed in two parts. First, the property is considered to be vacant and available for development as of the valuation date. Then, the highest and best use of the property as improved and/or proposed to be improved is considered. It is to be recognized that in cases where a site has existing improvements on it, the highest and best use may very well be determined to be different from the existing use. The existing use will continue, however, unless and until land value in its highest and best use exceeds the total value of the property in its existing use. An interim use is an existing and relatively temporary use where the transition to highest and best use is deferred. A building or other improvement may have many years of remaining life yet may not enhance the value of the land that has a higher use, except as an interim-use improvement while the land is in transition. Highest and Best Use as Applies to Subject: After considering all the factors that would affect highest and best use including location, zoning, physical characteristics of the site and existing improvements, a determination has been made that the highest and best use of the subject property both as improved and vacant is continued agricultural use. The subject is located in the Agricultural District of West Pennsboro Township. The legal restriction permits the current use of the property as a residence, dairy replacement and crop farm as well as many alternate uses. The most common alternate land use in the area is residential uses. The zoning does not strictly limit the conversion of farm land to non-ag uses. The only limitation is the large minimum lot size of two acres. The farm has physical characteristics which limit the potential subdivision of the property and limit potential non-agricultural uses. The farm does not have public road frontage. The property is accessed by a private lane. This limited access severely limits the potential subdivision of the property. Single family dwelling lots in the area are generally subdivided from existing public road frontage due to the large lot size required. It would not be feasible to attempt to develop the subject property without additional access. The subject farm does not have agricultural improvements which influence the highest and best use of the property. The farm has general type buildings which do not influence the highest and best use of the property. The farm has excellent soils and a moderate to high percent tillable land. The farm land is valuable for continued agricultural use. The farm is also located in a strong agricultural area where premium prices are paid for land which remains in farming. Page 6 . . Based on the above discussion, the highest and best use of the subject property is continued agricultural use, both as vacant and as improved. 8. MARKET DATA APPROACH: Four comparable sales were used in this appraisal report. All four sales were in the subject market area. The adjusted values per acre ranged from $4,662 to $5,345. A value of $5,000 per acre was chosen for the subject property. 9. CAPITALIZATION APPROACH: The capitalization rate was estimated by developing a typical income and expense statement for various farming operations in the area. The Penn State Farm Management Handbook was used to determine the typical crop income and expense figures. Market data was used for the rental information. The capitalization rates for the comparables ranged from 3.90% to 5.00%. A rate of 4.50% was selected for the subject. 10. SUMMATION APPROACH: The soil information was obtained from the soil survey. Vacant land sales and farm sales with minimal building value were considered in determining the land value. The Marshall and Swift Valuation Program was used to calculate the replacement and depreciated replacement cost of the improvements of the subject or comparable sales with improvements. 11. MARKETING TIME: The subject is a general farm with a private and attractive setting. The subject is located in a changing community where residential and part-time farming operations are encroaching on the once predominantly active farming community. The subject has below average improvements. Estimated marketing time is 6-12 months. Marketing time is estimated by speaking with brokers, auctioneers and parties involved with the comparable sales. 12. RECONCILIATION OF MARKET VALUE: The reconciliation of value was based upon the assumption that the Market Approach and Summation Approach was the best indication of value because it took into account the actions of buyers and sellers in the market place. The Summation Approach was was applicable due to some recent improvements on the property and the use of the Marshall and Swift program. The Market Approach uses sales of competitive properties on the subject marketplace. When similar sales exist, this approach to value is most accurate since it involves the motivations of typical buyers and sellers. The Market and Summation approaches are interrelated and similar in most cases due to the high percentage of value placed on the land of farm properties. The Income Approach uses typical income and expense figures and capitalizes the net income to arrive at an indication of value. The final decision of value on this property is based on the Market and Summation Approaches, supported by the Income Approach. Page 7 . "Market Value As Is" June 19, 2001 $250,000 . ~' ~.: L' 'I . , .....--..-...-.-.--. ...--...--..-.--.--.-----.-----. P.21t.A't-W.'Qnt, DMd. StwMt Form. Act of ltol-At'...1tld for '.....ReconUn_ He,." Hell. Inc.. ""ellen., .... ~~~~ UCbi~ p.r.O~UEC..l.' J ICE ,I< THe nEC\iRO~H O~'PI'ECS - J) ttb, JA;""~t,~~~::~~':81 MADE THE 1. --: dall of January of 0111' Lord one tholl8and nine hllndred eighty-two (1982) in the 'lIeal" BETWEEN RALPH S. SHUGHART, widower, of West Pennsboro T~wnship, Cumberland County, Pennsylvania, hereinafter called Grufttor , and DONALD D. LEHMAN, singlwj of West Pennsboro Township, I Cumberland County, Pennsylvania, hereinafter called Grantee : WITNESSETH, that in coMiderution of One and no/100-------__________________ -------------------------------($1.00)-------____~____--------D U I. t. . 0 4r, in hand paid, the receipt fuhereof i8 hereb'll acknowledged, the 8aid gmntor do e s herebl! gmnt and convel! to the laid grantee, his heirs and as signs, ALL that certain tract of land with the two story brick dwelling house, frame barn and other improvements thereon erected, situate in the Township of West Pennsboro, County of Cumberland and Commonwealth of Pennsylvania, bounded and described as follows. BEGINNING at a sandstone at corner of lands formerly of D. G. Bear now of Diller Lehman; thence by the same, North 52 1/2 degrees West, 3.7 perches to a post; thence by lands formerly of D. G. Bear now of George Ginter and by lands formerly of B. F. Mentzer now of Anson G. Mentzer, North 25 1/2 degrees West, 87.3 perches to a white oak stump; thence,by the latter, North 33 1/2 degrees West, 203 feet, more or less, to a pOint on line of right-of-way of Pennsylvania Turnpike Commission, formerly a part hereof; thence along said right-of-way, North 87 degrees 37 minutes East, 1,937 feet, more or less, to a point on line of land formerly of Heirs of Henry Dover now of Heirs of Andrew G. Bear; thence by the latte~, South 21 1/4 degrees East, 1,187 feet, more or less, to ,a post; thence by the same and said land of Diller Lehman, South 76 1/2 'degrees West, 90.9 perches to the Place of BEGINNING. CONTAINING 49 . acres,. more or less. /' I I I BEING the same property which Lucretia Shenk, et al, granted and conveyed to Ralph S. Shughart and Laura E. Shughart', his wife, by deed dated March 30th, 1944 and recorded in the Office of the Recorder of llOOr.Q29 ;':;~C: ',11 I .... . . Soil Map - Lehman Farm . . -I " ~ !! ::f ~ 1l.E.",,5 t:: n:l IS ..c (l) H .. ' ....." ~. ~ ': 0- n:l ~ >< n:l E-< ,It" ,,:/!:_, ',~ "- .\ ~~ '~~.I1f; -'-) , .9 ~. . .... ;.:~~: ", .'? . 1~t':"; , ~~,~~(. :~;r /_ . :.:__.,:~:i.-.___ '-' --=- ,.,:? ~ .~ ,.,~ r ,. \.:'~.'-. ....l. \~:.~ fj I ! . t Y 1 1 ~ NATIONAL FLOOD INSURANCE PROGRAM .1 t 1 II I , , ~~ , i 'J. :i 'd j I PANEL 5 OF 15 j I (SEE MAP INDEX FOR PANELS NOT PRINTED) , f ~ i I: j I L , - j - j I \ I I I .., j :; PANEL LOCATION ; ; I ., COMMUNITY.PANEL NUMBER 421590 0005 A l EFFECTIVE DATE: 1 MARCH 4, 1988 t 1 : [ i I 1 I , I I Federal Emergency Management Agency l I 1 - I i . f i i..... \ .~ (-1 '>'1 FIRM FLOOD INSURANCE RATE MAP ~; ! ~ : , ; . if ,I 1 " q :1 TOWNSHIP OF WEST PENNSBORO, PENNSYL VANIA CUMBERLAND COUNTY 1 I' 'j , \_--===-- . . JU~ l .~ II . :D 1/ ~ 'I I I 1 ~I ~ I r, ? I . i i I . :/ ;:/ ~ ...... ~ S PANEL 001 0 JOIN ...... ~ I ) I I I I . . ARTICLE 4 AGRICULTURAL DISTRICf(A) Section 401. INTENT. Consistent with the general purposes of this Zoning Ordin~nce, the ,Future Land Use Plan, and the goals and objectives of the West Pennsboro Township Comprehensive Plan, the specific intent of this ARTICLE is to preserve and maintain the Township's valuable farmland by allowing less intensive development to occur within the designated "A" boundary lines. Agricultural land is considered a non-replaceable resource within the Township, which, if lost, is not reclaimable once it is. developed. Agricultural activities are an integral part of the culture and economy of West Pennsboro and are, therefore, deserving of preservation. Provisions within this Article should protect agricultural activities and retain the Township's rural character. '. Section 402. PERMITTED USES. In this district no building, farm unit plus accessory structures or land shall be used and no building shall be erected which is arranged, intended to be, or designed to be, used for other than one or more of the following approved uses: I I I I I t\. I , , , , j ) Agricultural, horticulture, and forestry uses, including the raising, breeding, and grazing of animals provided that any lot intended to house livestock be a minimum of two (2) acres net lot area with a maximum of two (2) animals per acre. Additionally, any kennel, stable, pen or similar housing or storage of manure may not be located within the front yard setback or less than thirty feet (30') from any side or rear property line. B. Farm units and accessory farm-related structures. ,.. C. Single-family detached dwelling units. D. Farmers' markets and produce stands in accordance with ARTICLE 12, Section 1204. E. Churches or similar places of worship, including a parish house, manse, parsonage, or convent. F. Cemeteries. G. Public or semi-private recreation areas when not operated to gain or profit. H. Municipal buildings. 1. Necessary municipal and public utility structures and buildings in accordance with ARTICLE 12, Section 1206. 4-1 . . J. Accessory uses on the same lot with, and customarily incidental to, any of the above permitted uses in accordance with ARTICLE 12, Section 1201. K. Grange halls and buildings for agricultural oriented groups. L Golf courses and country clubs. Section 403. CONDITIONAL USES. Conditional uses in this district may be allowed or denied by the governing body pursuant to public notice and hearing, after recommendations by the Planning Commission, pursuant to the express standards and criteria set forth in ARTICLE 12 in this ordinance, as follows: A.. Home occupations in accordance with regulations in ARTICLE 12, Section 1205. B. Agriculturally oriented commercial establishments such as farm implement dealers, feed mills' and similar businesses and support services in accordance with regulations in ARTICLE 12, Section 1213. C. Nursery, lawn and garden equipment and supplies sales and service in accordance with regulations in ARTICLE 12, Section 1213. D. Commercial Kennels' in accordance with regulations in ARTICLE 12, Section 1211. E. Camps or campgrounds in accordance with regulations in AR1fCLE 12, Section 1210. ~ F. Commercial Riding Stables in accordance with regulations in ARTICLE 12, Section 1212. H. Bed and breakfast establishments in accordance with ARTICLE 12, Section 1202. j , I 1 1 G. Veterinary offices and animal hospitals or clinics and shall be in accordance with ARTICLE 7 - Lot Requirements, ARTICLE 14, Section 1401 and ARTICLE 15. I. Storage of Materials and Equipment in accordance with ARTICLE 12, Section 1215. J. Public or private schools and related educational facilities. 4-2 Section 404. BUILDING HEIGHT REGULATIONS. No building shall be erected to a height in excess of fifty (50) feet except for silos. . . Section 405. LOT AREA AND WIDTH REGUlATIONS. A Minimum Lot Area shall be no less than two 2 acres. B. Minimum Lot Width at the minimum building setback line shall b~ no less than two hundred (200) feet Section 406. LOT COVERAGE REGUlATIONS. Principal buildings and accessory buildings or structures including building and impervious surface coverage shall not be more than twenty- five (25%) percent of the total lot. area. To the greatest extent possible, soils of Prime and Statewide significance, as defined and delineated by the USDA Soils Conservation Service, shall not be covered by structures or impervious materials. Section 407. YARD REGUlATIONS. Yards of the following minimum depths and widths shall be provided. A Minimum front yard depth shall be sixty (60) feet, as measured from the street right-of-way upon which it abuts. B. ' Minimum side yard width shall be thirty (30) feet. C. Minimum rear yard depth shall be fifty (50) feet from the rear property line. See ARTICLE 12, Section 1207, for other yard regulations. Section 408. OFF-STREET PARKING REGUlATIONS. Off-street parking shall b~ provided in accordance with the provisions of ARTICLE 15. Section 409. HIGHWAY (ROADWAY) ACCESS REGUlATIONS. Regulations limiting access driveways for permitted uses shall be provided in accordance with provisions of ARTICLE 12, Section 1209. 4-3 Agrarian SSOclates File No. CUMBERLA I UNITED STATES DEPARTMENT OF AGRICULTURE FARMERS HOME ADMINISTRATION I REAL ESTATE SALES DATA Buyer Date of Transfer Town or Nearest Town I' Robert and Trov Waaaoner 4/17/98 Newville I Seller Ixl Deed n Contract County Donald and Kav Jones Cumberland Property commonly known as: State II pennsvlvania IDENTIFICA TION OF PROPERTY ACRES CONSIDERATION (Use Sec. Two., Roe. when aoolicablel OR LOTS 36.67 Acre Farm, West Pennsboro Townshio 36.67 Amount Stated $ 242 500 II Deed: K31-712 (old reference) Federal Stamos $ I Parcel: 46-9-521-6E. 6J State Stamos $ TOTAL ACRES OR LOTS CONVEYED 36.67 Assumed Mortaaoe $ II MINERAL RIGHTS 100% $/AC Water Riahts fxl Yes r No ACTUAL PRICE $ 242 500 II TERMS OF SALE Consideration Verified With I I CONTRIBUTORY VALUE OF BUILDINGS AT TIME SOLD II KIND SIZE CONDI- RE- USEFUL CON- YEAR CON- KIND OF DIMENSION TION PLACE- LIFE REPLACE- TRIBU II KIND OF BUILDING BUILT STRUC- OF FOUN- OR AREA STOR- OF MENT REMAIN MENT TORY- TION ROOF DA- OF GROUND IES BUILD- COSTS VALUE VALUE ING TION FLOOR ING (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11 ) (12) II A, * DWELLINGS old Br M St 2216 2 Good $ 121535 77% $ 93460 II B, Bank Barn old Fr M CB 3600 2 Fair 48996 30 14699 C, Freestall 1970s Fr M Conc 5504 1 Fair 59003 37 21831 D. Garaae old CB M Conc 1088 1 Fair 11641 48 5588 I E. MilkHouse 1970s CB M Conc 942 1 Fair 25321 37 9369 I F. Silos&Laqoon 1970s Conc Conc Misc 1 Fair 63000 20 12600 80% TOTALS 157547 126038 II * FACILITIES Ge Water r 1 Gas x Central Heat Gel Seotic Tank r 1 Sewer Gel Electricitv ~:::~::: :::: ::;:::::::: :::: >...{.>:?>...ii...>.............?i..........i.CON1RISumORMLANO.:VALOESS\(M:ARKETABSTR:AC110Ni........:..>.......:..:............. ..... USE OF LAND ACRES SOIL DESCRIPTION DEPTH OF KIND OF TOPOGRAPHY VALUE TOPSOIL SUBSOIL PER ACRE TOTAL II CROPLAND (1 ) (2) (3) (4) (5) (6) (7) (8) 30 HuA 10-12' , SiltLoam 0-3% $ 3300 $ 99000 HcB 8-10' , SiltLoam 3-8% I! HcC 6-8" SiltLoam 8-15% HcD 4-6" SiltLoam 15-25% TOTAL CROPLAND 30 I: PERM. PASTURE 1 HcD 4-6" SiltLoam 15-25% 2222 2222 WOODLAND 2.67 HcD HcC 4-8" SiltLoam 8-25% 2000 5340 II FARMSTEAD 3 HcB 8-10" SiltLoam 3-8% 3300 9900 ROADS ETC. TOTAL 36.67 MARKET VALUE OF LAND $ 116462 II COMMENTS: (Include any hazards, detriments or limiting conditions) Freesta1l dairy on small acreaqe. Dairy was built in the 1970s and contains 66 stalls. parlor is a double 3. Dairy needed some repairs to brinq back into production. House is a sinqle family dwellinq with 3 bedrooms, 1.5 bath and oil heat. Farm is I 36.67 acres with 30 tillable (82%) . Tillable soils are Haqerstown and Huntinqton Series with qood productivity. Productivity estimated at .78 compared to best county soils. Productivity limited due to rock out crops. Property has about 300' of road frontaqe alonq Mount Rock Road. Property Il in Aqricultural Zoninq District. Land Value/Acre: 3176 Buildinq Value/Acre: 3437 Overall Value/Acre: 6613 A 'mHA 1922-9 IRev. 6-931 MCS, a Division of ACI Development 18001 697-7783 Page 1 of 2 MCS Form RSD Agrarian Associates TOTAL PRODUCTION LANDLORD'S RETURN YIELD CASH AND/OR RENTAL SHARE CROPS ACRES PER PRICE GROSS RATE OR ACRE AMOUNT VALUE II PER UNIT VALUE PERCENT (1 ) (2) (3) (4) (5) (6) (7) (8) I Corn 30 105 3150 2.65 $ 8348 100 $ 8348 I FARMSTEAD, DWELLING I RENTAL I CASH RENT 1 WOODLAND I II WASTELAND, ROADS, ET I I PERMANENT PASTURE House 700/mo 8400 100 8400 Dairy 400/mo 4800 100 4800 2.67 o TOTALS $ I j DEDUCTIONS I REAL ESTATE TAXES AND ASSESSMENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $ II I II I II INSURANCE COSTS ON BUILDINGS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . MAINTENANCE COSTS BUILDINGS, FENCES, WATER SUPPLY, TILE. . . . . . . . . . . . . . . . . . . . . . . OPERATING AND MAINTENANCE COSTS FOR IRRIGATION AND DRAINAGE. . . . . . . . . . . . . . . . . . ANNUAL PAYMENTS ON BONDED DEBTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OTHER DEDUCTIONS (SEEDS, CROP INSURANCE, WATER CHARGES, FERTILIZER, LIME SPRAY. . . MATERIAL, HAULING, HARVESTING, GINNING, AND MARKETING EXPENSES) I II 1 I Corn Expenses 157/Acre TOTAL DEDUCTIONS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10095 NET FARM INCOME. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11453 ACTUAL PRICE $ 242500 CAPITALIZATION RATE FOR THIS COMPARABLE 4.70% (NET FARM INCOME/ACTUAL PRICE = CAPITALIZATION RATE) nHA 1922-9 {Rev. 6-931 MCS, a Division of ACI Development IBOOI 697-77B3 Page 2 of 2 MCS Form RSD . . .... l-l Q) c:: o 01 01 ro ~ 0.. ro ~ r-i -,-l o (IJ .. A n Associates A005023C grana File No. II UNITED STATES DEPARTMENT OF AGRICULTURE FARMERS HOME ADMINISTRATION II REAL ESTATE SALES DATA Buyer Date of Transfer Town or Nearest Town . Daniel and Erla Zimmennan 12/1/99 Lees Cross Roads II Seller !xl Deed n Contract County Clvde and Victor Barrick Cumberland Property commonly known as: State Il Pennsvlvania IDENTIFICATION OF PROPERTY ACRES CONSIDERA TION IUse Sec. Twn., Rne. when annlieablel OR LOTS 60.40 Acre Land Tract. Penn Townshin 60.40 Amount Stated $ 225.000 I Deed: 212-389 Federal Stamps $ I Parcel: 31-12-0330-008 State Stamos $ TOT AL ACRES OR LOTS CONVEYED 60.40 Assumed Mortaaae $ II MINERAL RIGHTS 100% $/AC Water Riahts [xl Yes r 1 No ACTUAL PRICE $ 225.000 I TERMS OF SALE Consideration Verified With I CONTRIBUTORY VALUE OF BUILDINGS AT TIME SOLD I KIND SIZE CONDI. RE. USEFUL CON. CON. KIND OF DIMENSION TION PLACE. LIFE REPLACE. TRIBU YEAR II KIND OF BUILDING STRUC- OF FOUN. OR AREA STOR. OF MENT REMAIN MENT TORY. BUILT TION ROOF DA- OF GROUND IES BUILD. COSTS ING VALUE VALUE TION FLOOR ING (1 ) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11 ) (12) II A. . DWELLINGS $ % $ I B. C. None D. II E. II F. TOTALS II . FACILITIES r Water r 1 Gas Central Heat r 1 Seotic Tank r 1 Sewer r 1 Electricitv I............. :.:CONTRI13UTORYLANDVALUESBYMARKETABSTRACnON\ ....................................'. ............................ . ........................ .................. .. .. . USE OF LAND ACRES SOIL DESCRIPTION DEPTH OF KIND OF TOPOGRAPHY VALUE TOPSOIL SUBSOIL PER ACRE TOTAL I. CROPLAND (1 ) (2) (3) (4) (5) (6) (7) (8) 60.40 MuA 10-12" SandLoam 0-3% $ 3725 $ 225.000 MuB 8-10" SandLoam 3-8% Ii MuC 6-8" SandLoam 8-15% TOTAL CROPLAND 60.40 I: PERM. PASTURE WOODLAND II FARMSTEAD ROADS ETC. TOTAL 60.40 MARKET VALUE OF LAND $ 225.000 II COMMENTS: (Include any hazards, detriments or limiting conditions) Land tract located alonq Beetem Hollow and Blue Pond Roads I in Penn Township. Land sold subiect to an aqricultural conservation easement. Land is all tillable and soils are all Murrill Series. Soil Productivity is estimated at .89 compared to the I best county soils. Road frontaqe totals about 4,600 linear feet. Penn Township does not have zoninq. I Land Value/Acre: 3725 FmHA 1922-9 IRev. 6-931 MCS. a Division of ACI Development 18001 697-7783 Page 1 of 2 MCS Form RSD Agrarian Associates CROPS YIELD TOTAL PRODUCTION ACRES PER PRICE GROSS ACRE AMOUNT PER UNIT VALUE (2) (3) (4) (5) (6) 60.40 ~20 7248 2.65 $ ~9207 (1 ) I Corn I FARMSTEAD, DWELLING RENTAL CASH RENT WOODLAND II WASTELAND, ROADS, ET PERMANENT PASTURE TOTALS $ DEDUCTIONS II REAL ESTATE TAXES AND ASSESSMENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $ II INSURANCE COSTS ON BUILDINGS. . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . MAINTENANCE COSTS BUILDINGS, FENCES, WATER SUPPLY, TILE. . . . . . . . . . . . . . . . . . . . . . . II OPERATING AND MAINTENANCE COSTS FOR IRRIGATION AND DRAINAGE. . . . . . . . . . . . . . . . . . ANNUAL PAYMENTS ON BONDED DEBTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . II OTHER DEDUCTIONS (SEEDS, CROP INSURANCE, WATER CHARGES, FERTILIZER, LIME SPRAY. . . MATERIAL, HAULING, HARVESTING, GINNING, AND MARKETING EXPENSES) II Corn Expenses ~57/Acre II TOTAL DEDUCTIONS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . II NET FARM INCOME. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . II CAPITALIZATION RATE FOR THIS COMPARABLIE 3.90% IIINET FARM INCOME/ACTUAL PRICE = CAPITALIZATION RATEI IHA 1922.9 IRev. 6-931 MCS, a Division of ACI Development 18001 697-7783 LANDLORD'S RETURN CASH AND/OR RENTAL SHARE RA TE OR PERCENT (7) VALUE (8) ~OO $ ~9207 ~0530 8677 ACTUAL PRICE $ 225000 Page 2 of 2 MCS Form RSD . . Soil Map Barrick granan ssocla es File No. A C II UNITED STATES DEPARTMENT OF AGRICULTURE FARMERS HOME ADMINISTRATION II REAL ESTATE SALES DATA Buyer Date of Transfer Town or Nearest Town Edward and Marian Nolt 1/6/00 Newville II Seller !xl Deed n Contract County Donald & Shirlev Heishman.Twvla & Raloh Kauffman Cumberland Property commonly known as: State II pennsvlvania IDENTIFICATION OF PROPERTY ACRES CONSIDERA TION IUse Sec., Two., Roe., wheo aoolieablel OR LOTS 63.54 Acre Farm West Pennsboro Townshio 63.54 Amount Stated $ 300.000 II Deed: 214-592 Federal Stamos $ II Parcel: 46-09-0517-019 State Stamns $ TOTAL ACRES OR LOTS CONVEYED 63.54 Assumed Mortaaae $ II MINERAL RIGHTS 100% $/AC Water Riahts [;l Yes [No ACTUAL PRICE $ 300 000 i I TERMS OF SALE Consideration Verified With II I CONTRIBUTORY VALUE OF BUILDINGS AT TIME SOLD II KIND SIZE CONDI- RE- USEFUL CON- YEAR CON- KIND OF DIMENSION TION PLACE- LIFE REPLACE- TRIBU II KIND OF BUILDING STRUC- OF FOUN- OR AREA STOR- OF MENT REMAIN MENT TORY- BUILT OF GROUND TION ROOF DA- lES BUILD- COSTS ING VALUE VALUE TION FLOOR ING (1 ) (2) (3) (4) (5) (6) (7) (8) (9) (10) (1 1 ) (12) II A. . DWELLINGS old Br M St 1740 2 Fair $ 118383 70% $ 82868 II B. Bank Barn old Fr M St 5940 2 Fair 81022 21 17015 C. Shed old Fr M Conc 1008 1 Fair 8890 21 1867 D. II E. II F. 85% TOT ALS 101750 86488 II . FACILITIES Tx Water r l Gas x Central Heat [xl Seotic Tank [ l Sewer \Xl Electricitv IF::::"::::::: .............................................. ........... .0......................0............................................S.SV....................................................... ........................................... ..... "':"':':"':':"::':::::::,:.:::.:.:.:.:.:::.:.:,::....<.'><>:.:..:..<0:: ..NTRIBUT ::..RY:..LANO..VAlUE .'.:< ::' ::.'MARKETABSTRACTJON>:.:.:::.::::::':::::':"':"':"........ USE OF LAND SOIL DESCRIPTION DEPTH OF KIND OF TOPOGRAPHY VALUE ACRES TOPSOIL SUBSOIL PER ACRE TOTAL Il CROPLAND (1 ) (2) (3) (4) (5) (6) (7) (8) 60 HaB 8 -10' , Si1tLoam 3-8% $ 3400 $ 204000 HcB 8-10" SiltLoam 3-8% I! HaC 6-8" SiltLoam 8-15% TOT AL CROPLAND 60 II PERM. PASTURE WOODLAND II FARMSTEAD 3.54 HaC 6-8" SiltLoam 8-15% 2687 9512 ROADS ETC. TOTAL 63.54 MARKET VALUE OF LAND $ 213 512 II COMMENTS: (Include any hazards, detriments or limiting conditions) General farm located a10nq Oak Flat Road in West Pennsboro Township. Property sold sub;ect to an aqricultura1 easement. Farm is a total of 63.54 acres with all the land tillable except the buildinq site. Tillable soils are all Haqerstown Series with II 3-15% slopes. Soil Productivity is estimated at .91 compared to the best county soils. Farm located in the Aqricultural Zoninq District. Road frontaqe totals about 550 feet. I Land Value/Acre: 3360 II Buildinq Value/Acre: 1361 Overall Value/Acre: 4721 A A . t -mHA 1922-9 IRev. 6-931 MCS. a DiviSIOn of ACI Development 18001 697-7783 Page 1 of 2 005023 Mes Form RSD Agrarian Associates II TOT AL PRODUCTION LANDLORD'S RETURN YIELD CASH AND/OR RENTAL SHARE CROPS ACRES PER PRICE GROSS RATE OR ACRE AMOUNT VALUE II PER UNIT VALUE PERCENT (1) (2) (3) (4) (5) (6) (7) (B) CO:n1 60 123 7380 2.65 $ 19557 100 $ 19557 FARMSTEAD, DWELLING RENTAL CASH RENT House 650/mo 7BOO 100 7800 Ba:n1 150/mo 1800 100 1800 WOODLAND II WASTELAND, ROADS, ET TOT ALS $ PERMANENT PASTURE DEDUCTIONS II REAL ESTATE TAXES AND ASSESSMENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $ II INSURANCE COSTS ON BUILDINGS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . MAINTENANCE COSTS BUILDINGS, FENCES, WATER SUPPLY, TILE. . . . . . . . . . . . . . . . . . . . . . . II OPERATING AND MAINTENANCE COSTS FOR IRRIGATION AND DRAINAGE. . . . . . . . . . . . . . . . . . ANNUAL PAYMENTS ON BONDED DEBTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . II OTHER DEDUCTIONS (SEEDS, CROP INSURANCE, WATER CHARGES, FERTILIZER, LIME SPRAY. . . MATERIAL, HAULING, HARVESTING, GINNING, AND MARKETING EXPENSES) II CO:n1 Expenses 157/Acre II II TOTAL DEDUCTIONS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14140 NET FARM INCOME. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15017 II ACTUAL PRICE $ 300000 CAPITALIZATION RATE FOR THIS COMPARABLE 5.00% II (NET FARM INCOME/ACTUAL PRICE = CAPITALIZATION RATE) ,HA 1922-9 IRev. 6-931 MCS. a Division of ACI Development 18001 697-7783 Page 2 of 2 MCS Form RSD . . ~...... HaS Soil Map - Heishman II UNITED STATES DEPARTMENT OF AGRICULTURE FARMERS HOME ADMINISTRATION II REAL ESTATE SALES DATA Buyer Date of Transfer Town or Nearest Town Lester and Janet Huber 11/4/99 Shiooensbura II Seller Ii] Deed n Contract County Aaron and Verna Leinbach Cumberland Property commonly known as: State II Pennsvlvania IDENTIFICATION OF PROPERTY ACRES CONSIDERA TION IUse Sec. Twn., Rne., when annlicablel OR LOTS 44.71 Acre Farm. Southamoton Townshio 44.71 Amount Stated $ 290 000 II Deed: 211-66 Federal Stamos $ I Parcel: 39-11-306-31 & 32 State Stamos $ TOT AL ACRES OR LOTS CONVEYED 44.71 Assumed Mortaaae $ II MINERAL RIGHTS 100% $/AC Water Riahts IXl Yes r No ACTUAL PRICE $ 290 000 I TERMS OF SALE Consideration Verified With I I CONTRIBUTORY VALUE OF BUILDINGS AT TIME SOLD I KIND SIZE CONDI- RE- USEFUL CON- YEAR CON- KIND OF DIMENSION TION PLACE- LIFE REPLACE- TRIBU II KIND OF BUILDING STRUC- OF FOUN- OR AREA STOR- OF MENT REMAIN MENT TORY- BUILT TION ROOF DA- OF GROUND IES BUILD- COSTS ING VALUE VALUE TION FLOOR ING (1 ) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11 ) (12) II A. *DWELLlNGS 1990 Fr Sh Conc 2101 2 Good $ 99334 83% $ 82447 I B. Dairv Barn 1990 Fr/CB M Conc 8000 2 Good 131600 51 67116 C. Mach Sheds 1990s Fr M Conc 3392 1 Fair 21285 39 8314 D. Heifer Shed 1990s Pole M Dirt 2400 1 Fair 16224 43 6976 II E. Stable 1990s CB M Conc 572 1 Fair 10954 34 3724 i I F. 2 Silos 1990s CS M Conc Misc 1 Good 32000 25 8000 80% TOTALS 176577 141. 262 II * FACILITIES Gc Water r 1 Gas Ix Central Heat rxl Sentic Tank r 1 Sewer GcJ Electric itv [q............. ...............<...)<.(..........<...CONTfOS010BY.LANOVALUESS\1:MAJ:lREtASSiRACDON/(............................................. .. .. DEPTH OF KIND OF VALUE USE OF LAND ACRES SOIL DESCRIPTION TOPSOIL SUBSOIL TOPOGRAPHY PER ACRE TOTAL Il CROPLAND (1) (2) (3) (4) (5) (6) (7) (8) 38 HaB 8-10" SiltLoam 3-8% $ 3400 $ 129200 HcC 6-8" SiltLoam 8-15% I! HcB 8-10' , SiltLoam 3-8% TOT AL CROPLAND 38 Il PERM. PASTURE 3.71 HcC 6-8" SiltLoam 8-15% 2517 9338 WOODLAND II FARMSTEAD 3 HcC 6-8" SiltLoam 8-15% 3400 10200 ROADS ETC. TOTAL 44.71 MARKET VALUE OF LAND $ 148 738 II COMMENTS: (Include any hazards, detriments or limiting conditions) Small dairy farm sold privately. All bui1dinqs buil t since 1990. Buildinas include a frame house, dairy barn , horse stable, loafina shed & misc sheds. Dairy has 36 stalls & 600 qallon milk tank. Buver addina stalls, milk house, & milk tank. Farm II is a total of 44.71 acres with 38 tillable (85%). Tillable soils are all Haaerstown Series with excellent productivity. Productivity estimated at .94 compared to best county soils. Farm located in Southampton Township which does not have zonina. Road frontaae totals about 2,000'. Land Value/Acre: 3327 II Buildina Value/Acre: 3160 Overall Value/Acre: 6487 Agrarian Associates 'mHA 1922-9 IRev. 6-931 MCS, a Division of ACI Development 18001 697-7783 File No CUMBERLA Page 1 of 2 MCS Form RSD Agrarian Associates TOT AL PRODUCTION LANDLORD'S RETURN YIELD CASH AND/OR RENTAL SHARE CROPS ACRES PER PRICE GROSS RA TE OR ACRE AMOUNT VALUE II PER UNIT VALUE PERCENT (1) (2) (3) (4) (5) (6) (7) (8) Corn 38 127 4826 2.65 $ 12789 100 $ 12789 FARMSTEAD, DWELLING RENTAL House 600/me 7200 100 7200 CASH RENT Dairy 460/me 5520 100 5520 WOODLAND II WASTELAND, ROADS, ET TOTALS 60/yr PERMANENT PASTURE $ II DEDUCTIONS REAL ESTATE TAXES AND ASSESSMENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $ II INSURANCE COSTS ON BUILDINGS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . MAINTENANCE COSTS BUILDINGS, FENCES, WATER SUPPLY, TILE. . . . . . . . . . . . . . . . . . . . . . . II OPERATING AND MAINTENANCE COSTS FOR IRRIGATION AND DRAINAGE. . . . . . . . . . . . . . . . . . ANNUAL PAYMENTS ON BONDED DEBTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . II OTHER DEDUCTIONS (SEEDS, CROP INSURANCE, WATER CHARGES, FERTILIZER, LIME SPRAY. . . MATERIAL, HAULING, HARVESTING, GINNING, AND MARKETING EXPENSES) II Corn Expenses 157/Acre Pasture Expenses 30/Acre I ~ I I I TOTAL DEDUCTIONS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B800 NET FARM INCOME. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11932 ACTUAL PRICE $ 290000 CAPITALIZATION RATE FOR THIS COMPARABLE 4.10% (NET FARM INCOME/ACTUAL PRICE = CAPITALIZATION RATE) nHA 1922-9 (Rev. 6-931 MCS, a Division of ACI Development 1800) 697-7783 Page 2 of 2 MCS Form RSD . . Huber . . BRIAN D. PEDRICK IFAA FORMAL EDUCATION: The Pennsylvania State University, University Park, PA 16802. Received a Bachelor of Science degree in General Agriculture in 1982. National Association of Independent Fee Appraisers Inc. Principles of Farm, Ranch and Rural Appraising - 1996 Advanced Farm, Ranch and Rural Appraising - 1996 Capitalization Rates, Discount Rates and Ratios - 1996 Uniform Standards of Professional Appraisal Practice - 1997, 2000 Pennsylvania Real Estate Appraiser Law and Regulations - 2000 Litigation Valuation -2001 Appraisal Institute Partial Interest Valuation - Undivided - 2000 Assessors' Association of Pennsylvania Fundamentals of Real Estate Appraisal - 1993 Site and Market Analysis - 1993 Cost Approach to Value - 1993 Income Approach to Value - 1993 Appraisal Standards and Ethics - 1995, 1997 Pennsylvania Real Estate Law and Regulations, 1999 Berks Real Estate Institute Real Estate Tax and Investment, 1998 Pennsylvania Realtors Institute Appraisal Standards and Ethics - 1993 Narrative Report Writing - 1993 Introduction to Commercial Appraisals - 1993 Institute of Real Estate Studies Real Estate Law - 1993 Real Estate Investment - 1995 Real Estate Finance - 1995 Residential Construction - 1996 Property Management - 1997 Lee and Grant Company Appraising Historic Properties - 1995 Environmental Hazards - 1995 Eminent Domain - 1995 Appraisal Standards and Ethics - 1995 McKissock Data Systems Real Estate Fraud - 2001 Expert Witness Testimony - 2001 Received credit for 21 undergraduate business courses from area universities, 1985-1988. . . PROFESSIONAL EXPERIENCE: Agrarian Associates, Inc.: President and Director of Appraisal Services, 1993 to present. Responsible for the administration of appraisal services for the south-central Pennsylvania area. Agrarian Associates Inc. is an appraisal company that specializes in Real Estate appraisal of agricultural properties, including Fair Market Values, Agricultural-Use Values, Property Tax Assessment Appeals and Conservation Easement Values. USDA Farmers Home Administration: 1983-1993. County Supervisor in Lancaster, Berks and Schuylkill Counties. Responsible for the administration of a variety of Agricultural and Residential loan and grant programs including all aspects of loan making and servicing. Duties included appraisals of farms, residential properties and chattels and providing management and technical advice to borrowers as well as the management of the county office. Caseload included 150 farm accounts and 600 housing accounts. Certification, Designations and Memberships: State Certified General Appraiser. General Certification # GA-001200-L. Senior Agricultural Designation - National Association of Independent Fee Appraisers (NAIFA). Member of the Assessors' Association of Pennsylvania (AAP). North Cornwall Township Agricultural Preservation Board Member Member of the Lebanon County & Pennsylvania Builders Association Past President, Mount Gretna Snowmobile Volunteers SAMPLE ASSIGNMENTS (Agrarian Associates Inc.): 2,500-sow farrow to feeder complex 600,000-bird layer operation 800-cow dairy facility 2,800-sow farrow through wean facilities Sew pig nurseries Wean through finish hog facilities 48-unit subsidized elderly housing complex 48-unit subsidized housing complex 100,000 bird/year feather bird complex (fly fishing lures) Over 40,000 Acres of Land for Agricultural and Conservation Easement Purposes ACCOMPLISHMENTS (FmHA): County Office of the Year, 1991. County Supervisor of the Year, 1989. Runner-up County Office of the Year, 1985. Most active office in Pennsylvania based on loan volume, 1991 and 1992. Only office in Pennsylvania to implement the Guaranteed Rural Housing Loan Program( 1992). Among the lowest farm and housing program delinquencies in Pennsylvania. Eliminated 25 collection farm accounts while covering Berks/Schuylkill Counties. . . ACCOMPLISHMENTS (A2rarian Associates Inc.: Real Estate Appraisals of 150-250 agricultural properties per year. Approved appraiser by most of the agricultural lenders throughout central and south-central Pennsylvania. Counties serviced include; Adams, Bedford, Berks, Centre, Chester, Clinton, Columbia, Cumberland, Dauphin, Franklin, Fulton, Huntington, Juniata,. Lackawanna, Lancaster, Lebanon, Lycoming, Mifflin, Monroe, Montgomery, Northumberland, Perry, Schuylkill, Snyder, Union, Wayne and York. OFFICE: Agrarian Associates, Inc. 243 South 8th Street, Suite 2 Lebanon, P A 17042 (717) 228-1510 - telephone (717) 228-1512 - fax agrarian@nbn.net - e-mail . .. n o 3 3 <n' '" o' :> n .... .. :> c:>- O g '0 .. C'. o :> eo. :> ~ ::;. '" l'Nt:tl tr1N>;c t:tlo~ ~~~ O~O Z~~ C/l~ '"C:l>-3n >0;;;0::: --~ -..1<: ~tr1 N .... ~ 8.. ?{ G1 ~ I o o I-' N o o I j:-i , ,1:1::1 tx:l tt:l o --.] I-' \D \D ~ ~ t-< I-' 0'\ N o o I-' y ~ tr.! ~ 'E. ra '" w o N o o w n ~ a. ::n n ll> @" Z ~ ~ ... n ~ a. ::n n !!; o' t:l o ll> I'D - '" ~ ~ 0. . o trl Z trl ~ l' > ""C ""C ~ ...... en trl :;:t:l n [ '" 51 n !!; ~r '"C:lt:tl . .::: ora . ll> ,....., t:tl .::: hi og, 3 x4l .3 No 00 ~(t>.g ~ ~~ ~. ~ ~ ::r: 0 ::l ~ ~ ~ ~ e: t,;;'ll> ~ 0-[.....0 ~ 0 0 ~ ~. n ......., ('D ::,g !i1 g ll> ..... c;n __ ~, ('D '< -..1 0 ........ -- ~ -< o~ ~ VI ~ N ~ Pi' ~.lir' ~::;' '" . . EPSUCHEOLIGE L. HOFFMAN FORMAL EDUCATION CORNELL UNIVERSITY, Ithaca, New York Received a Bachelor of Science degree in Animal Science with a Farm Business Management and Finance minor in 1995. - Dean's Ust Applicable Course Work: Fundamentals of Real Estate Appraisal, Site and Market Analysis, Cost Approach to Value, Income Approach to Value, Farm and Rural Residential Appraisal, Uniform Standards of Professional Appraisal Practice, Farm Finance, Advanced Farm Finance, Farm Business Management, Advanced Farm Business Management, Estate Planning,:, PROFESSIONAL EXPERIENCE " AG~RIAN ASSOCIATES, INC., Lebanon, Pennsylvania 2000 - Present Appm~ersAa/smnt , ASSisting in" the appraisal of agricultural properties throughout Central Pennsylvania. Researching and gathering courthouse information on subject and comparable properties including checking zoning and deeds, verifying sales prices and conditions of sales. Assisting in preparation of appraisal reports by calculating soil productivity indexes, sketching deeds, visiting farms and collecting data, writing narratives, MEADOW GOLD DAIRY, Greeley, Colorado . 1997 - 1999 Laboratory Technician Developed and maintained a product weight control program by utilizing statistical process controls, preventing the overfilling of containers and saving the company $2,000 weekly. Trained new employees on laboratory processes and procedures. Performed a full range of microbiological, chemical and physical evaluations of products, HCR REAL ESTATE, Hereford, Texas 1995 _ 1996 Appraiser Trainee / Realtor , Assisted in performed real estate appraisals using sales comparison approach. Presented real estate to prospective buyers and procured new listings. CORNELL UNIVERSITY, Ithaca, New York 1994 -1995 Dairy Fellow Involved in a two-year intensive study and application in dairy farm management and finance. Prepared farm consultant reports on topics such as dairy herd management, nutrition, herd health, crop management, and farm expansion and presented them to farm families. Farm Credit Fellow Collected and analyzed data on dairy farms within the Farm Credit's loan portfolio. Prepared loan analyses and recommehdations and presented them to Farm Credit. Presented consultant reports to dairy farmers. FARM CREDIT NCJ, Newton, New Jersey Summer 1994 Loan OffIcer Intern Worked with a diverse loan portfolio, including dairy, greenhouse, and vegetable farms. Entered and analyzed credit data and projected cash flows. Wrote narratives, edited loan applications, and updated security agreements. Visited farm businesses and collected credit information. PROMISSORY DEMAND NOTE AND NOW, this 17th day of August, 1990, LEHMAN VIEW FARMS, a Pennsylvania Partnership, of Carlisle, consisting of DOUGLAS B. LEHMAN and DAVID D. LEHMAN, hereinafter referred to as the Partnership, agrees to pay to DONALD D. LEHMAN, of 55 Kerrs Road, Carlisle, Pennsylvania, his heirs and assigns, the sum of One Hundred Twenty-Five Thousand Three Hundred Thirty-Six and 74/100 ($125,336.74) Dollars in consideration for a like sum which he has loaned this date to the Partnership. The said Partnership agrees to pay interest on the unpaid balance at the rate of nine 1/2 percent (9 1/2%) per annum. The Partnership shall make minimum monthly payments in the amount of One Thousand One Hundred Sixty-Eight and 30/100 ($1,168.30) Dollars to Donald D. Lehman, his heirs and assigns. The Partnership shall have the privilege of paying additional principal without any penalty. The total payments shall be payable on the seventeenth (17th) day of the month beginning September 17th 1990. This Note shall be paid in full on or before August 17th, 2010, if not otherwise demanded by Donald D. Lehman before that date. Donald D. Lehman may demand payment by giving to the Partnership a written demand for payment which will be paid by the Partnership within six (6) months following the receipt of the written demand by the Partnership. This Note may be immediately reduced to judgment in the Court of Common Pleas of Cumberland County, upon its execution. . . If the Partnership fails to make a payment as required by the terms of this Note within thirty (30) days of when said payment is due, the Note shall be in default and the Partnership does hereby empower and authorize the entry of judgment against the undersigned and the execution upon the judgment entered in the amount of the entire principal sum due at the time of the default in any Court of Record of Pennsylvania or elsewhere together with costs and interests as set forth herein. WITNESSETH: 1r~~ ~UcQD~AL) DAVID D. LEHMAN DEe 24, 1990 PMT :It DA TE E:9 ,],t.,N 2,+ 90 FEE 24 91 I'IAR-,:--. ~1:2 ,~PR 24 93 MAY 24- '~4 JUN 2':' '3'5 JUL 24 :~ e, ,Co,UG 21. '~7 SEP 24 9i3 OCT 24- 9'9 NOV 24 100 DEC 24 .lg~:l::) i 0 1 .102 103 .104 105 106 107 loe 109 110 111 112 11:5 114 11':; l1C 117 11S 1E) 120 121 1,....,') .1";.,,..... 123 124 1.25 121':; 127 126 129 130 J ?J.J 24 FEB :..:.. rli,R 24 l~P.2 24 rfL~Y 24 JUr"'4 24 JUL 24 AUI3 24 SEF 2.4 OCT 2'+ NOV 24 DEe 24 1 ~~99 Jt"J! 2 it- FEE 24- NAR 24 ,.:';PE 24 r.'Lt, Y 24 JUN 24 JUL 24 AUG Z~ SEF 24 OCT 24 NO'vi ..::..'-t' DEe 24- 2.000 .] ~,N 24 FEB 2,+ r'lAR ~~4 ,t,PR 24 1'~ . '_'1 TflA '( 24 .TUN 24 .JUL 24 AUC3 ~,~ 132 1'::3 SEP 2L.. 1:::,4 135 OCT n' r--~ov 24 i3E, DEe ,-'~ 2CiOl . AMORTIZATION SCHEDULE INTEREST p,t.,Yt'lENT ;:115."93 elJ.14 610.::;2 1307.49 i~d) 4. . 6::; eo 1 .75 79\::. 3 65 7~35. 93 7~12. ge 790.01 7f.;7.01 7<::4.00 9,E:.02.0iJ. 7130. :3:1 777 . ;:)~~~ 774. ;:;0 771 .6;3 7 Ei~:~ ~ ~j4 76::,. :3;::, 7c,2.. l:J 75e.97 7~15 . 7:3 72;2-. Ll-6 71+9 . 1 7 74.~).:=.;:) 9,16::::.f31 742.51 739.14 '735.7iJ.. ,'"':::0 '-::n ,. ._1.1.... ,_I~ 72e.67 72~;. 3~} 721 . e:3 7113.:35 714~'7e '7.t 1..19 707.5'7 ..7 (: ::; . ';~j:3 ;::, , 6;:: 1 , t, 7 700.25 696.55 t:i'd 2 . i:; 1 6e9. O~I ~3e5 .. 25 661 ~ 4:~ e77. S,7 673 I t3';;.~ 6f3~~ .77 fit!:, . ;::.:3 Eit:;l . ;'":;5 e,57 . e~+ i::,. 1 ::,1 .. ~::9 PRINCIPAL PrWMENT ~152. :37 ::i55. 1 i3 ':;57.9E. :3f50 .i:;l 3e::.\.67 3E;6.. 55 :3t:.g .4:i ~172 . :37 37:1.32 :::7:3.. 29 :3c;l .2.9 :3;34. :30 i~ ,417 .. ~56 :3;:;7. :::,5 3~~~O . .+1 :;;33. Sf) 3G)6.62 :3'~9. 76 402.S"i2 40~3.1i 409. :33 412.57 415.a~ 41'j. l:~j 422-.45 4, aS5. '::39 42-~, ~ 79 429. 1 f::. Lr32 . ~5f, 4::)::, . 'J;.:i 4::,9..43 442.91 446.42 44:j.95 4~::3. 52 457.11 460.7:3 464. ::i7 5 , :::~:3 7 . '~l:3 46;3.05 ;' ',",1 r")C" L..l- Ii. ,',_l 475.49 4. 79. 2:1 4;3:3.05 [f.,56. E,'! 490.7::: 494. e;J. 49;:~. 53 t:> 2.~+"? ::; C.45 C' O. .:+C S..."l '7,-'1 ADlJI T ION,'~L FA Yt1ENT . 0.00 0.00 0.00 0.00 0.00 u.uu 0.00 0.00 0.00 0.00 o.co 0.00 G.OO 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 c.oo 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1),00 0.00 0,00 (). (:I (I. 0 u. ..... O. (i PFII3E .:;, .-' RHI,'\ I N I NG BF.LANCE 102,711.<35 l02,J56.69 1 C 1 , 'd':jc: . 7 1 1 (11, e,::7 . ,;) I) 101 ,274.2:~; 100,907.68 1 () 1) ! ~5:33. 23 100, 1~:;:;.e6 997 '790.54 99,412.25 99,030.9':; 9a , ~:::.4Ej . E;t~ :;1;:; ~ 2:.9.31 9 7 , i::.E:.i:i . ~;~ 0 :J7t475~40 '97,07;5.713 96,679.02 9EI,2'76.10 951 as/:;) . g':~ 9~j, 4tiO .66 'as, 04.3. 09 fi4, f532 . 25 S)~~, 21::).12 ~;r::., 790 . e7 9::;, 2H:i4. ;::.t:'l ':~2, 9:35 I 72 92,:I03.1e; '~<2, 067. l.a ';)1,627.75 91 , 1 ;34 . (::4 90,73e;.42 'd () , 2ee . 47 13{~1 , e:34. 9:l E'i;~ J :377 . 84 ;:;:5 , 9 1 7 . 11 ---"'(50, 1.;.~.~. /4 i3 7 'i 9<::;4 . (:~~3 1:;7,512. S)4 i:17 ~ 0:37.4.5 i:it;., ::,5<:;.20 ee;,075.1S 85 , :ll~:ie . 2;:; ;:~51 097. S5 a/4-..E;02.94 ::;'+'1104.41 i:~1 ,~~I 1 t') U 1 . S:l /~ ;:;:3, n~;}5. 4'3 e2., ~,:5S. 0:::; 1. se.ties Held in IRA Accounts . All Capital Corp, 275 Shrs @ Z3.47 6,591.75 COSlP# 01903Q108, Accrued Dividends $ 137.50 EMC Corp Mass, 125 Shrs @ 27.90 3,487.50 COSIP# 268648102 Ingers'oll-Rand, 150 Shrs @ 45.95 6,892.50 CUSIPi 456866102 satew~y Inc New, 100 Shrs @ 48.73 4,873.00 CUSIP# 786514208 Santa Fe Ene~gy TR Spers, 200 Shrs @ 23.08 4,616.00 cusni 602013102 Tyeo Inti LTD, 100 Shrs @ 55.40 5,540.00 COSIPfI 902124106 Delta Airlines Preferred, 375 Shrs @ 24.73 9,273.75 8.125%, Note Due 07/01/39, Callable 07/01/04 CUS!P* 247361405 Morgan stanley Dean Witter Preferred 1,934.25 300 Shrs @ 5.90, 10% Conv PFD COSIP# 61744Y769, Accrued Dividends $ 164.25 TransArnerica Fin Preferred, 200 Shrs @ 24.50. 4,900.00 Quibs Due ll/Ol/2e, Ca11aple.l1/03/03 COSIP# 693950204 CIT Group Holdings Bond, $ 7,000.00 Face 7,408.10 CPN 8.375%, DUE 11/01/01, DTD 11/01/91 FC 05/01/92, CUSIP# 125569CL5 Accrued lnterest $ 317.52 Tennco Inc Notes, $ 7,000.00 Face 7,531.55 Non Call Life, CPN 7.875%, Due 10/01/02 DTD 10/01/92, FC 04/01/93, COSIPi 880370BK6 Accrued Interest $ 298.59 Mediatone Group Inc, $ 7,000.00 Face 7,379.89 Medium Term Notes, Non Call Life CPN 6.84', Due 12/30/03, DTD 12/30/96 FC 05/15/97, COSIP# S8446EBA6 Accrued Interest $ 259.35 Fleet No~star Financial Group Inc Notes 7,757.54 $ 7,000.00 Face, Non Call Life, CPN 8.125% Due 07/0l/04, DTD 06/30/92, FC 01/01/93 COSIP# 33a915~9, Accrued Interest $ 308.07 Ever9reen Money Market Reserve 2,516.47 First Ontion Securities # 50262350 2. 3. 4. 5. 6. 7. 8. 9. 10. ll. 12. 13. 14. TOTAL !$80,702.30 ESTATE OF Donald D. Lehman . . ITEM NUMBER 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. ll. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31- 32. 33. 34. 35. 36. 37. 38. j=\. DESCRIPTION AES Corp, 150Shrs @ 42.65, CUSIP# 00130H105 Allied Capital Corp, 700 Shrs @ 23.47, COSIP# 01903Q108 Accrued Dividends $ 350.00 Amerigas Partners LP, 500 Units @ 22.58, CUSlP# 030975106 Anheuser Busch Cos, Inc, 200 Shrs @ 41.72, CUSIP# 035229103 BEA S~S, Inc, 100 Shrs @ 29.78, CUSIP# 073325102 Bristol Myers Squibb Co, 200 Shrs @ 55.15, cuSXP# 110122108 CVS Corp, 150 Shrs @ 48.49, CUSIP# 126650100 Accrued Dividends $ 5.75 Calpine Corp, 200Shrs @ 42.63, CUSIP # 131347106 Charter Municipal Mortgage Co, 900 Shrs @ 14.87, CUSIP# l60908109 Dell Computer Corp, 250 Shrs @ 24.09. CuSlP # 2~7025109 Disney Walt Co, 350 Shrs @ 29.23, CUSIP# 254687106 Duke Energy Corp, 250 Sors @41.19, CUSIP# 264399106 EMC Corp Mass, 75 Shrs @ 27.~O, CUSIP# 268648102 Ericsson LM Tel Co ADR, 360 Shrs @ 5.23, CU~IP# 294821400 Ferrell Gas properties LTD, 1,000 Units @ 19.46, CUSIP# 315293100 First Union Corp, 275 Shrs @ 33.02, CUSIP# 337358105 General Electr~c Coropany, 400 Shrs @ 49.13, CUSIP# 369604103 Home Depot, !nc , 150 Sh~s @ 49.60, CUSIP* 437076102 ~ccrued Dividends $ 6.00 Intel Corp, 290 Shrs @ 27.99, CUSIP# 458140100 Johnson ~ Johnson, 199 Shrs @ 52.11, CUSIP# 478160104 Accrued Dividends $ 47.47 Mack Cali Reality Corp, 375 Shrs @ 27.80, COSIP# 554489104 Microsoft Co~, 400 Shrs @ 66.85, CUSIP# 594916104 No~tel Networks Corp, 200 Shrs @ 9.11, CUSIP# 656568102 Accrued Dividends $ 3.75 Plains All American Pipeline, 800 Units @ 25.80, CUSIP# 726503105 Santa Fe Energy TR Spers, 700 Shrs @ 23.08, CUSIPf 602013102 Sprint Corp, 250 Shrs @ 19.68, CUSIP# 852061100 Accrued Dividends $ 31.25 Suburban Propane LP, 650 Units @ 25.67/ COSIP# 8644e2104 Sun Microsoft Systems, Inc , 250 Sh~s @ 14.82, CUSIP# 866810104 TC Pipelines, 925 Shrs @ 23.78, CUS1P# 87233QI08 Teppco Partners LP, 800 Units @ 29.46, CUSIP# 872384102 Walmart Stores, Inc , 200 Shrs @ 48.97, CUSIP# 931142103 Williams Companies, Inc , 120 Shrs @ 35.61, CUSIP# 969457100 Accrued D~v1dends $ 18.00 Public Service Co., Cap Preferred, 300 Shrs @ 24.74, 7.6% TRTOPRS C~llable 06/30/03, CUSIP# 69360R20B AIM Funds Group value, 1,320.688 Shrs @ 10.99, CUSIP# 008879728 putnam Health Services Fund, 105.~49 Shrs @ 65.28,CUSIP# 746778208 Putnam New Opportunities Fund, 226.023 Shrs @ 42.47 ~YSIP' 746916204 putnam 8alance fund, 583.191 Shrs @ 10.27, CUSIP# 74644V207 First Unit Investment T~vst # 4?7, 1,500 Units @ 11.54 CUSIF# 30265M6~5, Acc~ued Interest $ 214.50 E-voergreen Money l.':IarKet Reserve, f~rst union Secunties II 50262348 'f ~~.~ru~d._.!~~_~E~~~__.t...?:.. a 4. TOTAL VALUE AT DATE OF DEAlH 0,397.50 16,779.00 11,290.00 8,344.00 2,978.00 11,030.00 7,279.25 8,526.00 13,383.00 6,022.50 10,230.50 10,297.50 2,092.50 1,882.80 19,460.00 9,080.50 19,652.00 7,446.00 8,117.10 10,417.36 10,425.00 26,740.00 1,825.75 20,640.00 16,156.00 4,951- 25 16,685.50 3,705.00 21,996.50 2:3,568.00 9,794.00 4,291.20 7,4.22.00 14,514.36 6,916.35 9,599.20 5,989.37 17,524. 50 2,507.67 $414,957.16 ~ . Date of Note: APri~ 1997 IXED RATE NOTE .oan Number: 028 010 04238903-10 Place Executed: Carlisle. Pennsylvania 'ork Farm Credit ACA Amount: $ 120,000.00 ruMBER TYPE REPAYMENT SCHEDULE AMOUNT DESCRIPTION OF DUE DATE 35 Fixed Payment ** installment(s) of $ ** installment(s) of $ ** installment(s) of $ ** installment(s) of $ \ final installment of the unpaid principal balance installments are successive unless otherwise noted and are 1,199.33 due Monthly beginning 06/01/1997 due due due of the indebtedness and all accrued interest is due May 01. 2000. payable on the same day of the month as the initial installment. All .*Fixed Payment (Standard) means the installment amount amortizes both principal and interest. Fixed Principal (Springfield) neans the installment amount amortizes principal only and interest is to be added. Interest Only means the installment amount :ncludes accrued interest only and principal installments are separate. cOR VALUE RECEIVED, THE UNDERSIGNED (YHETHER ONE OR MORE) PROMISE(S) TO PAY, IN ACCORDANCE YITH THE REPAYMENT SCHEDULE(S) ABOVE ,TATED, TO THE ORDER OF York Farm Credit ACA, its successors and/or assigns (hereinafter called Association), at its office in :ARLISLE. PA , the principal sum of One Hundred Twenty Thousand and no/100 ($120,000.00) Dollars, with interest until paid at ~he rate of 8.750 per centum per annum (designated herein as the loan rate). Jndersigned agrees as a condition hereof to provide current financial statements, including a balance sheet and income statement in a form acceptable to Association as may be requested by Association while the indebtedness evidenced hereby or any other indebtedness from Undersigned to Association is outstanding. The Undersigned may at any time make advance payments on principal in any amount, without penalty, provided all accrued interest and all other expenses or charges due hereunder have been paid current. Such payments shall operate to discharge the loan at an earlier date and shall not, except by written agreement, operate to reduce the amount of unpaid installments. The Undersigned and every endorser, guarantor, assumer, and surety of this note hereby expressly waive presentment, demand, protest and notice of dishonor, and consent to all renewals, indulgences, extensions, and releases of personal liability and of security permitted by the owner or holder hereof. Terms and conditions of the Association's commitment letter and/or a loan agreement dated March 14, 1997 and of the application and/or loan action request taken in connection with this loan are incorporated herein; provided however in the event of any inconsistency, the terms of this note shall prevail. At the option of the Association, any default in the terms and conditions of this note or under any other written instrument given or executed to Association or executed by Undersigned to any other party and now owned or held by Association shall constitute a default in the terms and conditions of anyone or more or all such notes or other written instruments. Upon default, Association, at its option, may declare this and all other indebtedness owed to be immediately due and payable and the unpaid principal balance shall thereafter bear interest at the rate(s) as provided in the note(s) in effect at the time of default and, if applicable, at the rate(s) as changed from time to time on succeeding Change Dates. The Association at its option may cease to make any further advances under this note, and Association may foreclose upon or sell any or all of the security for this note, in such order as it may prefer; and to apply the proceeds of such sale upon any indebtedness owed the Association in any order which it may desire. The Undersigned will pay premiums, or other charges the property described in trustee's right, title and damages for loss or injury expense. immediately upon demand all advances for payment of taxes, liens, judgments, assessments, insurance on the property securing this loan incurred by Association in protecting and defending the title to the instrument securing this note, and in protecting any or all of the property and Association's or interest therein from loss or injury, and in fixing or collecting, or attempting to fix or collect, to the property, but Association shall be under no duty to take any such action or incur any such If Association employs an attorney to collect the debt evidenced by this note, or to enforce or protect any rights provided for herein, or suit is filed hereon, or proceedings are had in bankruptcy or any other court whatsoever, then in addition to any principal, interest or other charges as provided for herein, Association shall also recover all costs, expenses, and attorney fees reasonably incurred, including such fees and costs incurred on appeal. Such costs, expenses and attorney fees shall become part of the indebtedness evidenced hereby and shall be immediately payable on demand, and shall draw interest from the date incurred until paid at the rate provided herein, as permitted by law. If there is any error or omission in this note or in the instrument securing it, the Undersigned will promptly, upon request of Association, execute a new note and other written documents as deemed necessary by the Association to correct such error or omission and will promptly pay upon demand of Association all attorney's fees, costs and expenses incurred in connection therewith. If the Undersigned fails to pay, upon demand of Association, any sums due or incurred by Association for any of the purposes stated in this note, Association may advance the same, and all amounts so advanced shall become and be a part of the principal due hereunder and shall inmediately be due and payable by the Undersigned to Association. tEAL - ACAFIX (11/95) ~ . . the event the Undersigned fails to pay when due any installment or installments of principal and/or interest (or portions ereOf) and if same remains unpaid by the end of Ten (101 calendar days after same is due, a late charg~ of One and 50/100 ;rcent (1.50%) of the overdue installment shall be paid by Undersigned to Association, with a minimum of $10.00. ,is note is secured by real estate security instrument(s) dated: April 14. 1997. lis note is the joint and several obligation of all persons executing it. Given under the hand and seal of the Undersigned as the date first above written. ~c,~ V/Yfod{ Lehman View Farms (L.S.) :iJJttL (L.S. ) Dougl., . ,.h..o, P'~od ~(PJ ~~~ - David D Lehman, Partner And Individually (L.S.) -~ (L.S. ) Individually (L.S. ) ct1~CfJ i~~ Donald D Lehman, Individually (L.S. ) le within note is hereby endorsed by the payee named in the body of said note to the same extent as if the name of the payee ~re hereinafter stated under the name of the following endorsee: PAY TO THE ORDER OF AGFIRST FARM CREDIT BANK, COLUMBIA, SOUTH CAROLINA ~AL - ACAFIX (11/95) \.. /6 -02-<;//_ J? BUREAU OF INDIVIDUAL TAXES INHERITANCE TAX DIVISION DEPT. 280601 HARRISBURG, PA 17128-0601 COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE NOTICE OF INHERITANCE TAX APPRAISEMENT. ALLOWANCE OR DISALLOWANCE OF DEDUCTIONS AND ASSESSMENT OF TAX DATE ESTATE OF DATE OF DEATH FILE NUMBER COUNTY ACN 'Ii l._," , GARY J HElM METTE ETAL PO BOX 5950 HBG ESQ 08-26-2002 LEHMAN 06-19-2001 21 01-0629 CUMBERLAND 101 *' REY-15~1 EX AFP 101-021 DONALD D PA 17110 Allount Rellitted MAKE CHECK PAYABLE AND REMIT PAYMENT TO: REGISTER OF WILLS CUMBERLAND CO COURT HOUSE CARLISLE. PA 17013 CUT ALONG THIS LINE ~ RETAIN LOWER PORTION FOR YOUR RECORDS ~ REV=is4-j-Ex--AFP--foY--02Y-NcfficE--oF-i-NHEifiTANCE-TAX-A-PPRjrisEi'-ENT~--Ai.i-oWANCE-[fR-------------- - -- DISALLOWANCE OF DEDUCTIONS AND ASSESSMENT OF TAX ESTATE OF LEHMAN DONALD D FILE NO. 21 01-0629 ACN 101 DATE 08-26-2002 TAX RETURN WAS: (X J ACCEPTED AS FILED J CHANGED RESERVATION CONCERNING FUTURE INTEREST - SEE REVERSE APPRAISED VALUE OF RETURN BASED ON: ORIGINAL RETURN 1. Real Estate (Schedule A) 2. Stocks and Bonds (Schedule B) 3. Closely Held Stock/Partnership Intarest (Schedule CJ 4. Mortgages/Notes Receivable (Schedule D) 5. Cash/Bank Deposits/Misc. Personal Property (Schedule EJ 6. Jointly Owned Property (Schedule F) 7. Transfers (Schedule G) 8. Total Assets (1) (2) (3) (4) (5) (6) (7J 488.140.00 28,397.00 .00 .00 111.317. DO 5.141.00 496.659.00 (8J APPROVED DEDUCTIONS AND EXEMPTIONS: 9. Funeral Expenses/Adm. Costs/Misc. Expenses (Schedule H) 10. Debts/Mortgage Liabilities/Liens (Schedule I) 11. Total Deductions 12. Net Value of Tax Return 13. Charitable/Governllental Bequestsj Non-elected 9113 Trusts (Schedule J) 14. Net Value of Estate Subject to Tax I~ an assessment was issued previDusly, lines 14, lS and/Dr 16, 17, 18 and 19 will re~lect ~igures that include the tDtal D~ ~ returns assessed tD date. ASSESSMENT OF TAX: 15. Allount of Line 14 at Spousal rate (15) 16. Allount of Line 14 taxable at Lineal/Class A rate (16) 17. Allount of Line 14 at Sibling rate (17J 18. Allount of Line 14 taxable at Collateral/Class B rate (18) 19. Principal Tax Due C TS: (9) (10) NOTE: 84.240.00 57.418.00 (11) (12) (13) (14) .00 982.855.00 .00 5.141.00 X DO = X 045 = X 12 = X 15 = DATE 03-19-2002 NUMBER CDoo0977 INTEREST/PEN PAID (-) .00 (19)= AMOUNT PAID 44.999.00 TOTAL TAX CREDIT BALANCE OF TAX DUE INTEREST AND PEN. TOTAL DUE · IF PAID AFTER DATE INDICATED. SEE REVERSE FOR CALCULATION OF ADDITIONAL INTEREST. NOTE: To insure proper credit to your account. subllit the upper portion of this forll with your tax paYllent. 1.129.654.00 141 .658 00 987.996.00 .00 987.996.00 .00 44.228.00 .00 771. DO 44.999.00 44.999.00 .00 .00 .00 ( IF TOTAL DUE IS LESS THAN $1. NO PAYMENT IS REQUIRED. IF TOTAL DUE IS REFLECTED AS A "CREDIT" (CRJ. YOU MAY BE DUE A REFUND. SEE REVERSE SIDE OF THIS FORM FOR INSTRUCTIONS.) RESERVATION: Estates Df decedents dying Dn Dr befDre December lZ, 198Z -- if any future interest in the estate is transferred in pDssessiDn Dr enjDymant tD Class B (CDllateral) beneficiaries Df the decedent after the expiratiDn Df any estate fDr life Dr fDr yaars, the CD"Dnwealth hereby axprasslY reserves the right tD appraise and assess transfer Inharitance Taxes at the lawful Class B (cDllateral) rate Dn any such future interest. PURPOSE OF NOTICE: PAYMENT: REFUND (CR): OBJECTIONS: ADMIN- ISTRATIVE CORRECTIONS: DISCOUNT: PENALTY: INTEREST: TD fulfill the requirements Df SectiDn Zl40 Df the Inheritance and Estate Tax Act, Act Z3 Df ZOOO. (7Z P.S. SectiDn 9140). Detach the tDP pDrtiDn Df this NDtice and submit with YDur paymant tD the Register Df Wills printed Dn the reverse side. --Make check Dr mDney Drder payable tD: REGISTER OF MILLS. AGENT A refund Df a tax credit, which was nDt requested Dn the Tax Return, may be requested by cDmpleting an "ApplicatiDn fDr Refund Df Pennsylvania Inharitance and Estata Tax" (REV-1313). ApplicatiDns are available at the Offica Df the Register Df Wills, any Df the Z3 Revenue District Offices, Dr by calling the spacial Z4-hDur answering service fDr fDrms Drdering: 1-800-36Z-Z050; services fDr texpayers with special hearing and I Dr speaking needs: 1-800-447-30Z0 (TT Dnly). Any party in interest nDt satisfied with the appraiseMent, allDwance, Dr disallDwance Df deductiDns, Dr asseSSMent Df tax (including discDunt Dr interest) as shDwn Dn this NDtice must Dbject within sixty (60) days Df receipt Df this NDtice by: --written prDtest tD the PA Department Df Revenue, BDard Df Appeals, Dept. Z810Z1, Harrisburg, PA 171Z8-10Z1, OR --electiDn tD have the matter determined at audit Df the accDunt Df the persDnal representative, OR --appeal tD the Orphans' CDurt. Factual errDrs diSCDvered Dn this asseSSMent shDuld be addressed in writing tD: PA Department Df Revenue, Bureau Df Individual Taxes, ATTN: PDst Assessment Review Unit, Dept. Z80601, Harrisburg, PA 171Z8-0601 PhDne (717) 787-6505. See page 5 Df the bDDklet "InstructiDns fDr Inheritance Tax Return fDr a Resident Decedent" (REV-1501) fDr an explanatiDn Df adMinistratively cDrrectable errDrs. If any tax due is paid within three (3) calendar mDnths after the decedent's death, a five percent (570) discDunt Df the tax paid is allDwed. The 1570 tax aMnesty nDn-participatiDn penalty is cDmputed Dn the tDtal Df the tax and interest assessed, and nDt paid befDre January 18, 1996, the first day after the end Df the tax amnesty periDd. This nDn-participatiDn penalty is appealable in the same Manner and in the the saMe tiMe periDd as YDU wDuld appeal the tax and interest that has been assessed as indicated Dn this nDtice. Interest is charged beginning with first day Df delinquency, Dr nine (9) mDnths and Dne (1) day frDM the date Df death, tD the date Df payment. Taxes which becaMe delinquent befDre January 1, 198Z bear interest at the rate Df six (670) percent per annum calculated at a dailY rate Df .000164. All taxes which became delinquent Dn and after January 1, 198Z will bear interest at a rate which will vary frDm calendar year tD calendar year with that rate annDunced by the PA Department Df Revenue. The applicable interest rates fDr 198Z thrDugh ZOOZ are: Year Interest Rate Daily Interest FactDr Year Interest Rate Daily Interest FactDr 198Z ZOX .000548 199Z 970 .000Z47 1983 1670 .000438 1993-1994 77. .00019Z 1984 1170 .000301 1995-1998 970 .000Z47 1985 1370 .000356 1999 77. .00019Z 1986 lOX .000Z74 ZOOO 870 .000Z19 1987 970 .000Z47 ZOOI 970 .000Z47 1988-1991 1170 .000301 ZOOZ 670 .000164 --Interest is calculated as fDllDws: INTEREST = BALANCE OF TAX UNPAID X NUftBER OF DAYS DELINQUENT X DAILY INTEREST FACTOR --Any NDtice issued after the tax becDmes delinquent will reflect an interest calculatiDn tD fifteen (15) days beYDnd the date Df the assessment. If paYMent is made after the interest cDmputatiDn date shDwn Dn the NDtice, additiDnal interest must be calculated. Ll1 Ll1 ITl IT' ;,... l3!Ji'J'~'I_:l:rIj:lI~ ;l:f ,'flR}i1I1R1.. 'f"'/ I/o...., ./;: "I"~ If.I'1:./;: I_ ~!J ~ E~'~~JEIHI'~cllA~l""""iJ~~'; Ll1 Pc l.tage $ 3" Cl C '''1ltleel Fee Cl Cl Re um I h3Clep'! Fee (Endors, Imer I Required) Cl Restrtc ed C dlvery Fee ~ (EndorsE men I Requi'ed) ITl ~ $ Pos H $ r-'l Cl Cl RnUm 1'1, :.ep' Fee Cl (Endor,,€melll leqLired) Cur jrie: Fee Postmark Here Cl Restrided De Ivery Fee r-'l (Endo~;€menl leqLired) Cl r-'l Total postag 3 & Fees $ Pos lage Total Fosta!le & F'3es ~ :~:~ 0,= =:= ,0. ~~b.~:!.tf\1..__t?_h____._._-_._._._----_.... ~!!:.~;;:;:_O_L=_ ,.6_ ~-7--._--------______m______-----_..______m City, State, ZI/ '+4 ~h 1'\ :"m... .. -, . . . ITl Cl ntTo -" ~ "SirS8i.ADIN:l:;m----n..k1nq. ~~nnt._A.~/.Lz. .co:,::!S.I!:'~."!~:,--.OL=.{;~ - . fty, taiB,ZI"'+4 ~'~''''p~n;'~TL- . :.pQ."~.1II'J!' ,~-_..._ """"""""""l( . Comp'ete Items 1. 2, and 3. A/ao complete Item 4 if Restricted Delivery Is desired. . Print your name and address on the I'8V8l'S8 so that we can return the carcI to you, . Attach this can:t to the back of the mallplece, or on the front if space permits. 1. Article Addressed to: ~~ O. Is delJylly.............tan ItIm 1'1 .. vec> ~ <leIMIy ....... below; O'BRIEN ROBERT L 19 W. SOUTH STREET CARLISLE PA 17013 2. ArttcIe! Nuirlbet '!! . '\. ~~~labeI) " IP$ fOI1J1 ~811. f!ebl'\lBrY\a~ j I ! :__: I :: l .;._J:;.;.' . I ai,. ..}-2g::-=--......_. . 0 Inetnd MIll D 0.0;0." 4. RestrIcted DIIIWry'l t&bFee) 0 Yes 7003 1010 0001 1204 0635 DQI1IMlIo,~ ReceIpt I ___~~~&40 1 r:O ru ..D CI AL Postage $ r-'l Certlfted Fee CI CI Retum Reclept Fee CI (Endorsement Required) Restricted Delivery Fee ~ (Endorsement Required) CI r-'l Total postage & Fees Postmark Here rn CI CI ["- ......................-..--....... ~-t 2.,end$.~...-I~ . VUI'~ .-.- , I)eIIYeIY Is-..... lt8rn 41f ~ addnlI8 on the reverse _ DItnt vour name ..~ _' ----t .... .-J. i ~ { ~i ! ;21 U'IJ-5~t! ~"r:::.9:Pt ~~ i 1"0. !~~~I i lll'h I~.. ~=al=~ 1 %e;!~5 ! 8:1d: ~~ t5 i . . R . ,r ~~~ or--- CJ)~CO H M ~j rilH~ Q~o.. ~QZ ...:IH 0...:1 ::r:: ~ rilM'::c ...:ILfl...::1 . .... JRp/June 30,1992/17858 JUL 1 4 2004 Estate No.: 2001-629 ORPHANS' COURT DIVISION COURT OF COMMON PLEAS OF CUMBERLAND COUNTY PENNSYLVANIA In Re: Estate of Donald D. Lehman Late of West Pennsboro Township NO. 21-Donald D. Lehman NOTICE OF FAILURE TO FILE STATUS REPORT AND REQUEST TO CONDUCT A HEARING PURSUANT TO RULE 6.12, SUPREME COURT ORPHANS' COURT RULE Personal Representative: David D. Lehman Counsel for Personal Representative: Robert L. O'Brien, Esquire Date of Decedent's Death: 06/19/01 Date of Delinquency Notice: 07/14104 The undersigned, Glenda Farner-Strasbaugh, Clerk of Orphans' Court, in accordance with Rule 6.12, Supreme Court Orphans' Court Rules, hereby notifies the Orphans' Court Division, Court of Common Pleas of Cumberland County, that neither the above named personal representative nor the above named counsel for the personal representative have filed with the Register of Wills or Clerk of the Orphans' Court his, her or its Status Report required by Rule 6.12, Supreme Court Orphans' Court Rule and that the requisite notice, pursuant to Rule 6.12, Supreme Court Orphans' Court Rules, was given by the Clerk of the Orphans' Court on April 30, 2004, and that the ten (10) day notice to file the Status Report has expired. Accordingly, in accordance with Rule 6.12 the Court is hereby notified of such delinquency and the undersigned requests that a Court conduct a hearing to determine whether sanctions should be imposed upon the delinquent personal representative or counsel for the delinquent personal representative. Date: 07/14/04 Distribution: ~rsonal Representativ4? ') Counsel for Personal Representative ~tate File 9-c2f,tYLI 9~"3d,/f./.11, A hearing is scheduled for at in Courtroom No.3. Ifthe the hearing date, the hearing will automatically be cancelled. STATUS REPORT UNDER RULE 6.12 Name of Decedent: Dt:JNM'O UI- l....el#lAllrJ Date ofDeath: (p 1/1/ (') I Will No ~ I ~ () I ~? .)e-; Admin No.: -D ~ - (o'd, ~ Pursuant to Rule 6.12 of the Supreme Court Orphans' Court Rules, I report the following with respect to completion of the administration ofthe above-captioned estate: 1. State whether administration of the estate is complete: YesD No)q 2. If the answer is No, state when the personal..r.epresentative reasonably believes that the administration will be complete: ~e:p7k-rk ~ I J It>t:>4 3. If the answer to No.1 is Yes, state the following: a. Did the personal representative file a final account with the Court? Yes No 0 b. The separate Orphans' Court No. (if any) for the personal representative's account is: c. Did the personal representative state an account informally to the parties in interest? Yes 0 No 0 c. Copies of receipts, releases, joinders and approval of forral informal accounts may be filed 1 the Clerk of Orph Court and may be attached to this repo . < / r Dare: Y/1/0f tJ " J Si~ature il - UA'V/) 4. IC)Ae/~ Name II /1 tv. ~ ~o ~L1St? b; /1113 dme ) 7/7 (jtfq - ~y1~, f;t~~f'~';~~~~'- ." Capacity: 0 Personal Representative ~Counsel for personal representative - 4 C/ v Name of Decedent: STATUS REPORT UNDER RULE 6.12 .L6N/1"Z-~ (), Le-h'M.lJ.A-! \J UVlt.- I Q 1 ~DDl Date of Death: Will No.: ~Oo I - GO b;)Cj Admin. No.: Pursuant to Rule 6.12 of the Supreme Court Orphans' Court Rules, I report the following with respect to completion of the administration of the above-captioned estate: 1. State whether ad~istration of the estate is complete: Yes 0 No JXI 2. If the answer is No, state when the personal representative reasonably believes that the administration will be complete: :t. y ~~ ~ 3. If the answer to No. 1 is Yes, state the following: a. Did the personal representative file a final account with the Court? Yes No 0 b. The separate Orphans' Court No. (if any) for the personal representative's account is: c. Did the personal representative state an account informally to the parties in interest? Yes 0 No 0 Date~ !l~( d~ c. Copies of receipts, releases, joinders and approval of formal or informal accounts may be filed with the Clerk of the Orphans' Court and may be attached to this report. ~~ ~4 L~L~ ~ N Name ..- d: C> (V) ~ ::li:::: :2 ';3 ~D ...0 ct= J) = 0u L0e~~ ~~S~ ~\~ 1='4 /1, ~2yq-41573 Telephone No. 1t Address ~:~'j .~ir J) cr: a:: p Capacity: 0 Personal Representative ..~. Counsel for personal representative - Cumberland County - Register Of Wills Hanover and High Street Carlisle, PA 17013 Phone: (717) 240-6345 ~ Date: 5/07/2003 LEHMAN DENNIS R 53 OLD MILL ROAD LAFLIN, PA 18702 RE: Estate of LEHMAN DONALD D File Number: 2001-00629 Dear Sir/Madam: It has come to my attention that you have not filed the Status Report by Personal Representative (Rule 6.12) in the above captioned estate. As per the AMENDMENTS TO SUPREME COURT ORPHANS' COURT RULES, NO. 103 SUPREME COURT RULES DOCKET NO.1, for decedents dying on or after July 1, 1992, the personal representative or his counsel, within two (2) years of the decedent's death, shall file with the Register of Wills a Status Report of completed or uncompleted administration. This filing will become delinquent on: 6/19/2003 Your prompt attention to this matter will be appreciated. Thank You. Sincerely, DONNA M. OTTO DEPUTY REGISTER OF WILLS cc: JFile Counsel Judge LL- CJ LL! t~ ~~,;..- (._~-' STATUS REPORT UNDER WE 6.12 Nam.e of Decedent: Donald D. Lehman Date of Death: June 19, 2001 Will No.: 2001-00629 Admin. No.: Pursuant to Rule 6.12 of the Supreme Court Orphans' COUl-:t Rules, I report the . fo.llowing with respect to completio:o. of the administration of the above-captioned estate: 1. State whether anministration ofilie estate is complete: Yes g] No 0 2. If the answer is No, state when the personal representative reasonably believes that the acbninistration ~7ill be complete: 3. If the answer to No.1 is Yes, state the following: a. Did the personal representative file a final account with the Court? Yes No 0 b. The separate Orphans' Court No. (if any) for the personal representative's account is: c. Did the personal representative state an account informally to the parties in interest? Yes 1Jg No D' c. Copies of receipts, releases, joinders and approval of fa informal accounts may be the Clerk f the h and may be attached to this r Date:f~y~ Signature David A. Baric,Esquire Name 19 West South Street (..., N Address Carlisle, PA (717) 249-6873 Telephone No. Capacity: 0 Personal Representative ~ Counsel for personal representative 17013 1--" cr ....,~-- 0- 'L ("",',. eSe;, . ~~r; 0' " &~l: 05 <..) ,-0 N -~ ..,rt.,- ..c: -, t.r.:> = C.:> c-.J ". ,oll ;'*- (\ C~